The FTSE 100 enjoyed strong gains yesterday, helped by Sainsbury’s after the supermarket group lifted its full-year profit outlook.
The blue-chip index climbed 152.37 points, or 2.6 per cent, to close at 6,061.61.
Despite reporting a seventh straight quarter of falling sales, Sainsbury’s shares soared 13.8 per cent. Other supermarkets were also lifted, with Morrisons up 6.4 per cent and Tesco 6.9 per cent higher.
Shares in Glencore continued to recover from Monday’s 30 per cent fall. Its shares were the best performer, up 14 per cent, having risen 17 per cent on Tuesday.
In the FTSE 250, shares in Entertainment One fell 8.8 per cent after the company said it would use a rights issue to fund the purchase of a 70 per cent stake in Astley Baker Davies, the creator and producer of Peppa Pig.
And European electronics retailer Darty rose nine per cent after it received a £533m takeover bid from French books and music retailer Fnac.