Supermarkets rise alongside FTSE

The FTSE 100 Index climbed higher yesterday thanks to a revival in supermarket stocks as official figures showing inflation at a 14-year low also boosted sentiment.

Morrisons was among the leading climbers in the FTSE after the chain ousted Dalton Philips as chief executive and posted Christmas sales figures in line with City hopes.

Shares in Tesco and Sainsbury’s were also sharply higher as the index added 40.8 points to finish at 6542.2.

The biggest risers in the FTSE were Admiral up 64p to 1432p, Morrisons up 7.9p to 184.8p, IAG up 19.8p to 489.1p, and Centrica up 10.8p to 271.8p.

The biggest fallers were Tullow Oil down 18p to 368.9p, Glencore down 10.5p to 269p, Ashtead down 33p to 1084p, and Shire down 133p to 4568p.