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Market report: FTSE mixed after President Trump cancelled stimulus talks

FTSE 100 reflected weaker sentiment after Donald Trump said Republicans would no longer be negotiating the stimulus package until the presidential elections are done. Tesco (LON:TSCO) hiked its dividend by 21% after a strong first half buoyed by record demand for groceries during lockdown, with profit before tax jumping by a third. The supermarket chain also poached its new chief financial officer from Tate & Lyle. Security firm G4S (LON:G4S) said the 190 pence per share offer by Canada’s GardaWorld significantly undervalues the company and its prospects. The board repeated once again it will not accept the takeover after the bidder stated it will not raise the offer. Ikea has announced 50 new stores opening worldwide, including the UK, despite the surge in online sales. The furniture shop expects continued demand for home improvement after lockdown. Among the small caps, Polarean Imaging (LON:POLX) has submitted a New Drug Application and a priority review request to the US Food and Drug Administration for hyperpolarised Xenon gas. The gas is used to evaluate how lungs work and to visualise them using MRI. Gaming Realms (LON:GMR) has inked a licensing agreement with online gaming group NetEnt to gain access to new gaming intellectual property. It will allow to combine the Slingo and Starburst games to widen the company’s portfolio. Shanta Gold (LON:SHG) has started construction of the Singida Gold Mining Project in central Tanzania. It will increase group production to 110,000 ounces in its first year of operation for annual underlying earnings of US$27mln.

Quick facts: Tesco PLC

Price: 229.6 GBX

Market: LSE
Market Cap: £22.51 billion

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