FTSE holds steady

The FTSE 100 Index stuck close to its opening mark today as anxiety over interest rates overshadowed a strong trading update from Sainsbury’s.

The retailer’s 3.7% rise in like-for-like sales over Christmas was met with relief and helped its share price rise nearly 6%, or 23p to 388p. It also led a host of other retailers back into the black during morning trading after they all suffered in the wake of poor sales figures from Marks & Spencer yesterday.