European markets are looking generally positive at the open on Wednesday.
Tesco, the largest supermarket in Britain posted an operating profit of £354 million, a slump of 55%. Like-for-like sales in the same period fell by 1.1%.
The shares are down 2.99% as of 8:10 a.m. UK time (3:10 a.m. ET)
Here’s how it looks:
The FTSE 100 as a whole is up 0.42%.
Meanwhile, brewing giant ABInBev has gone public with a £68 billion ($US103.9 billion) takeover offer for London-listed rival SABMiller, revealing it’s already had two bids knocked back by management.
ABInBev set out details of its £42.15 ($US64.30) per share offer in a statement on Wednesday.
The shares are up 2.75%.
The only major bit of economic data that we’ve had out on Wednesday morning was the miss in German industrial prodcution, which fell 1.2% in August from July, against analyst expectations for a 0.2% boost.
European markets mostly opened up a little, here’s how it stands
- Germany’s DAX: +0.74%
- France’s CAC 40: +0.44%
- Italy’s FTSE MIB: -0.02%
- Spain’s Ibex: +0.59%