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.