“The FTSE100 slipped back slightly after falls on Wall Street and despite a further fall in the plummeting pound,” says AJ Bell Investment Director Russ Mould.
“Tesco’s shares soared following its return to sales growth with a like-for-like improvement in all regions across the group. But while the supermarket giant’s tills have kept ringing it has not been immune to the effects of the Brexit vote. Tesco’s pensions deficit has jumped by more than £3.2bn since February to over £5.8bn due to falling bond yields since Brexit and the Bank of England’s cut in interest rates.
“Domino’s Pizza master franchise holder DP Poland is accelerating its store opening programme after raising £3.2m. The proceeds will give the company the funds it needs to open an additional 20 stores over and above the current forecasts. The group's new target is to have 100 stores by 2020.
“Kodal Minerals was an early riser after its sampling programme defined four new gold zones at its Korhogo project in northern Cote d'Ivoire. This part of the country has been very under-explored and while follow-up and infill geochemical sampling is required to define targets for reconnaissance aircore drilling, the latest results have confirmed the potential of the area to contain gold mineralisation.”
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