London Markets: Walmart’s U.K. rivals languish after Asda’s sales decline

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Customers arrive to go shopping at a branch of Asda supermarket in south London.

Shares of Walmart’s WMT, +1.46%   U.K. rivals languished on Thursday after its Asda subsidiary reported downbeat sales in the third quarter.

Asda said comparable-store sales fell 0.5% in the third quarter, with the company flagging consumer concerns over Brexit.

Shares of J Sainsbury SBRY, -0.54%  , which was blocked from an Asda merger, slipped 0.4%. Tesco TSCO, -0.30%  shares slipped 0.2%, while Morrison Supermarkets MRW, +0.13%   rose by 0.2%. Online delivery service Ocado OCDO, +1.72%  rose 1.1%.

The FTSE 100 UKX, -0.40%   more broadly dropped 0.38% to 7323.26.

Burberry Group BRBY, +3.59%   rose 2.6% after reporting a stronger-than-forecast first-half pretax profit, with second-quarter same-store sales rising 5%.

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