Tesco increases its UK market share
Tesco maintains its profit guidance for the year as it reports a 4.6% rise in underlying UK sales in its first quarter, winning market share.
The Bank of Japan
The Bank of Japan kept interest rates unchanged on Friday, as expected. In a unanimous vote, the Bank of Japan (BOJ) decided to maintain its short-term interest rate target in a range of 0-0.1%. The central bank will continue to Japanese Government Bond (JGB) at the current pace but will get a plan ready for its next meeting in July to trim purchases for the next one to two years. The yen weakened at the announcement against all major currencies, and GBP/JPY and CHF/JPY rose to all-time highs.
The Eurozone trade surplus
A bit later this morning, the Eurozone trade surplus is expected to have narrowed to €20 billion in April. The €24.1 billion surplus recorded in March was the largest since December 2020. Later this afternoon, the market awaits US import and export prices and a preliminary reading of Michigan consumer sentiment.
Tesco
Tesco maintains its profit guidance for the year as it reports a 4.6% rise in underlying UK sales in its first quarter, winning market share. The group still expects a retail adjusted operating profit of at least £2 billion.
Adobe
Adobe shares jumped as much as 17% in extended trading after it reported its Q2 earnings. On an adjusted basis, the company earned $4.48 per share in the quarter, compared with estimates of $4.39 per share. It reported revenue of $5.31 billion in the second quarter, which was also better than forecast. Adobe is another company that enjoys increased demand for its artificial intelligence-powered products, which led the Photoshop maker to raise its revenue forecast for fiscal 2024.
This information has been prepared by IG, a trading name of IG Markets Ltd and IG Markets South Africa Limited. In addition to the disclaimer below, the material on this page does not contain a record of our trading prices, or an offer of, or solicitation for, a transaction in any financial instrument. IG accepts no responsibility for any use that may be made of these comments and for any consequences that result. No representation or warranty is given as to the accuracy or completeness of this information. Consequently any person acting on it does so entirely at their own risk. Any research provided does not have regard to the specific investment objectives, financial situation and needs of any specific person who may receive it. It has not been prepared in accordance with legal requirements designed to promote the independence of investment research and as such is considered to be a marketing communication. Although we are not specifically constrained from dealing ahead of our recommendations we do not seek to take advantage of them before they are provided to our clients. See full non-independent research disclaimer and quarterly summary.
Take a position on indices
Deal on the world’s major stock indices today.
- 1-point spread on the FTSE 100 and Germany 40
- The only provider to offer 24-hour pricing
Live prices on most popular markets
- Forex
- Shares
- Indices
Prices above are subject to our website terms and agreements. Prices are indicative only
