Markets

Shares in Penneys owner soar to extend FTSE’s all-time level

Shares in Associated British Foods were up almost 10 per cent on Tuesday, hitting a heights last seen in 2018

Shares in Penney’s owner Associated British Foods (ABF) rose over 10 per cent at times on Tuesday. Source: Post Reporter

Shares in Penney’s owner Associated British Foods (ABF) rose over 10 per cent at times on Tuesday, helping the FTSE to extend its all-time high.

After a robust set of results in which it raised its profit outlook shares in London-listed ABF was trading around £27.45 (€31.89), a level not seen since 2018.

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Analysts cheered the half-year results, which covered the six months to March 2 and included a 20.7p ...