Jan 27, 2017
FTSE rises as Tesco surges on Booker deal
The retailer surprised the markets with its £3.7bn deal, which will result in Booker shareholders holding 16% of the combined company. Tesco shares jumped 9% to 205.90p, while shares in Booker were up 15% at 210.50p. Tesco was the biggest riser on the FTSE 100, with the benchmark share index up 4.89 points at 7,166.38. Shares in BT edged up 0.5%. The telecoms firm reported a sharp fall in third-quarter profits, down 37%, as it comes to terms with its Italian accounting scandal. The company also confirmed that Corrado Sciolla, head of continental Europe, would step down over the affair. On the currency markets, the pound fell 0.5% against the dollar to $1.2535, and dropped 0.4% against the euro to 1.1747 euros.
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