Tesco raises profit forecast as strong half makes it FTSE 100's top gainer
Tesco lifted its full-year profit forecast to £3.15bn–£3.3bn after a strong first half, sending its shares 4.5 per cent higher as the top FTSE 100 gainer while the wider index fell on a Brent surge above $104.
Tesco has raised its full-year profit forecast after a strong first half, sending its shares 4.5 per cent higher and making it the top gainer on a falling FTSE 100 on Thursday.
The blue-chip index fell 0.41 per cent to 10,413.43 by 0936 GMT as Brent crude jumped above $104 a barrel — up about 4 per cent in its steepest gain in nearly a month — on supply fears after attacks on shipping in the Gulf and the Strait of Hormuz, Reuters reported. The midcap FTSE 250 slipped 0.47 per cent to 23,924.76.
Tesco, the UK’s biggest grocer, now expects adjusted operating profit of £3.15bn to £3.3bn for fiscal 2026/27, up from the £3.0bn to £3.3bn range it guided earlier. The Grocer reported adjusted operating profit rose 6.5 per cent to £1.8bn for the 26 weeks to 29 August, with sales excluding fuel and VAT up 2 per cent to £33.8bn, and said Tesco had lifted its share buyback by £200m to £950m.
Elsewhere, Aberdeen rose 0.9 per cent after selling 52 million shares in Standard Life for about £436m, while HSBC slipped 2.1 per cent after the Financial Times reported the bank plans deep job cuts in its UK wealth business. Bank of England governor Andrew Bailey was due to speak at the Istanbul Economic Forum later on Thursday.
Sources
- Reuters — “UK’s FTSE 100 dips as oil surges; investors eye BoE Governor’s speech” (8 Oct 2026, 0936 GMT): https://www.reuters.com/world/uk/uks-ftse-100-dips-oil-surges-investors-eye-boe-governors-speech-2026-10-08/
- The Grocer — “Tesco nudges up profit higher despite ‘uncertain backdrop’” (8 Oct 2026): https://www.thegrocer.co.uk/news/tesco-nudges-profit-guidance-higher-despite-uncertain-backdrop/724560.article
- PA via The Oldham Times — “Tesco sales boosted by online shopping as consumers hunt for ‘value’” (8 Oct 2026): https://www.theoldhamtimes.co.uk/news/national/26617372.tesco-sales-boosted-online-shopping-consumers-hunt-value/
- Finimize — “Tesco Lifted Its Profit Floor After A Solid First Half” (8 Oct 2026): https://finimize.com/content/tesco-raised-its-profit-floor-after-a-strong-first-half
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