FTSE starts higher as S&P 500 breaches 5000; Tesco strikes deal with Barclays - Market Report

The FTSE 100 saw a bright start to the day after the S&P 500 breached the 5,000 mark in a record for US stocks on Thursday.

Back in the UK, Tesco shares were buoyed after the supermarket struck a deal to sell the majority of its banking operation to Barclays.

Housebuilder Bellway offered a glimmer of optimism for the embattled property market, noting in its interim results that customer enquiries were higher than usual for the winter months. Revenue slumped though, coinciding with news that the number of landlords in arrears had doubled by late 2023, reflecting tough conditions on the back of high interest.

And finally, BAE Systems-backed Air Astana told investors its shares would be priced at US$9.50 each for next week’s London IPO, valuing the Kazakh carrier at US$847 million.