Tesco rises on stock market on positive sales in the first fiscal semester

October 07, 2020 14:30

The main European indices are torn between green and red in the first hours of trading thanks to the good corporate results of large companies such as the British Tesco. The European stock markets are, thus, unmarked by the Wall Street falls caused by the announcement from the President of the United States Donald Trump that there will be no more stimulus until after the elections on November 3.

The largest supermarket chain in the United Kingdom has reported an increase in its sales of more than 6% in the first fiscal semester thanks mainly to the increase in online business, despite the coronavirus pandemic. However, its operating profit fell 15.6%.

The company is satisfied with the result and has announced the payment of a dividend of 3.20 pence per share, higher than a year ago. Its shares have risen more than 3% this morning on the stock market.

The supermarket chain has accumulated, however, an annual drop in the stock market of just over 14% compared to the 34% revaluation of fiscal year 2019. In the past five years it has only closed 2018 in negative.

Source: Admiral Markets MetaTrader 5. Tesco CFD Monthly Chart. Data range: from March 1, 2005, to October 7, 2020. Prepared on October 7, 2020, at 10:30 am. Keep in mind that past returns do not guarantee future returns.

For its part, the German company Dialog Semiconductor has anticipated that it expects an improvement in its revenues in the third quarter of the year, above what it had forecast in mid-August. Its shares are up about 3% on the stock market.

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