The UK market begins the day lower as investors are yet to be convinced of a turnaround. The FTSE 100 is trading 0.45% lower, and the FTSE 250 is down 0.56%.

The latest news on Wednesday includes Tesco, Topps Tiles and Halfords.

Tesco

• Tesco reported its interim results on Wednesday.
• The company saw group sales of £28.18 billion, up 3.1%.
• In addition, adjusted operating profit fell 9.8% to £1.32 billion.
• Despite ongoing challenges, Tesco maintained its profit guidance, as they expect operating profit between £2.4 billion and £2.5 billion.

Topps Tiles

• Topps Tiles reported a second record year for sales in its Q4 trading update.
• The group’s total sales increased 4.3% for Q4 and jumped 10.6% in its full year to £247.3 million, marking a second consecutive record year.
• Shares of Topps Tiles are up 6.19% following the report.

Halfords

• Halfords announces its acquisition of LTC Tradomg Holdings for a total consideration of £37.2 million.
• £33.2 million will be paid on completion of the deal, and £4 million paid in FY25, subject to performance.
• The acquisition takes Halfords garage services business to 656 garages.