Morning Markets: FTSE higher despite supermarket declines

The FTSE 100 opened positively, up 0.45% or 25.88 points to 5,753, despite food retailers dragging on the index.

Tesco was one of the morning's biggest fallers, despite posting a 10% growth in annual profits to £3.2bn. Its shares fell 0.78% to 434.05p. Fellow retailers also suffered losses as the volcanic ash disrupts supply chains. Sainsbury was down 0.41% to 343.4p. However, Primark owner Associated British Foods jumped 2.92%% to 986.5p, as group pre-tax profit came in at £330m in the 24 weeks ended 27 February, exceeding expectations. Banks were also among early risers. RBS advanced 1.49% to 51.15p and Barclays increased 1.15% to 374.7p. On Wall Street, the Dow Jones closed up 0.67% or 73...