London’s FTSE 100 was firmly higher after trading opened but was still almost 10% lower since Wednesday, after a dismal week for City stocks.

The rate of employer national insurance contributions increases from 13.8% to 15% on Sunday April 6.

The FTSE 100 declined by 352.9 points, or 4.38%%, to close at 7,702.08.

The company saw revenues increase by 4.8% to £47.6 million for the six months to January.

In its most recent update, Tesco cheered data showing it had reported its highest market share for almost nine years.

London’s FTSE 100 Index of companies dropped by 3.8%, or around 323 pounds, to 8,151.05 by Noon on Friday.

It came as the commercial construction sector declined at its sharpest rate since the start of 2021, according to new data.

Asian markets have begun Friday with further declines after heavy losses across the world’s key financial markets.

UK economic growth could be up to 0.5 percentage points lower than expected in the coming years, according to economists.

Shares in the company shot higher in early trading as a result.

Donald Trump slapped a 10% tariff on US imports of UK goods.

The electric car manufacturer saw sales fall 13% over the first quarter of the year.

The microcomputer business said pre-tax profits dropped by 57% in 2024, compared with the previous year.

The Leicestershire firm said homeowner sales ‘remain subdued’ amid caution over spending heavily on major DIY projects.

Hooters has two sites in the UK, in Nottingham and Liverpool, with plans from a franchisee to open a third in Newcastle.

The brokerage is among City firms to have faced pressure from a weak appetite for deal-making and geopolitical uncertainty.

The London-listed company also revealed that profits slumped by almost a quarter during a ‘challenging’ year.

Paul Marchant has resigned as the boss of high street fashion giant Primark following an allegation from a woman.

Aston Martin said the two deals are expected to improve the group’s liquidity by more than £125 million.

Retail and hospitality bosses have warned that higher labour costs and taxes are set to push up prices for customers across the UK.