The retailer said full-year sales, excluding fuel, rose by 4.2% to £26.6 billion as it increased its share of the UK grocery market.

The rate of Consumer Prices Index (CPI) inflation eased to 2.6% for March.

The fall was steeper than predicted by economists, who had expected a reading of 2.7% for the month.

However, the value chain saw shares tick higher after it told shareholders that earnings are set to be in the top half of previous guidance.

A consensus of economists has predicted that Consumer Prices Index (CPI) inflation will come in at 2.7% for March.

The availability of jobs worsened further, with vacancy numbers dropping to 781,000 for the three months to March, the ONS said.

The Office for National Statistics said average weekly pay grew by 5.9% for the three months to February.

The emerging markets specialist reported that total assets under management dipped by around 5%.

It comes almost a year after talks around a previous £1.56bn takeover approach from the Dubai-based network of companies collapsed.

Last month, WH Smith announced that Hobbycraft owner Modella Capital will buy its high street arm for around £76 million.

The FTSE 100 finished up by 0.64%, or 50.93 points, to close at 7,964.18.

Last month, WH Smith announced that Hobbycraft owner Modella Capital will buy its high street arm for around £76 million.

The Surrey-based firm said its ability to accurately forecast its sales to the US has been ‘considerably obscured’ by the trade tariffs.

The FTSE 100 finished up by 3.04%, or 233.77 points, to close at 7,913.25.

The Treasury confirmed that Mr Rathi will keep the role for another five years after his current term ends in September.

The FTSE 100 finished down by 2.92%, or 231.05 points, to close at 7,679.48 – its lowest since March 2024.

The company makes just under 40% of its revenues in US.

The FTSE 100 finished up by 2.71%, or 208.45 points, to close at 7,910.53.

The Post Office has said it plans to hand its 108 remaining crown branches to franchisees by the autumn.