The UK market continued its upward march

The UK market continued its upward march with Morrisons leading the way after its stronger-than-expected sales.

After closing at another record high on Monday, the FTSE 100 index was up 11.35 points at 7,249.12 in early trade.

Morrisons was the biggest riser on the index, up 4%, after the supermarket chain reported like-for-like sales growth of 2.9% over the Christmas period, well ahead of expectations.

The news lifted shares in Tesco, which were up 3.9%.

Whitbread shares rose 3.2% after Credit Suisse upgraded its rating on the hotel and restaurant operator to "outperform" from "neutral".

In the FTSE 250, shares in online takeaway food service Just Eat fell 6.7% after it reported sales growth figures. Like-for-like orders grew by 36% in 2016, with UK sales up 31%.

On the currency markets, sterling continued to fall in the wake of Theresa May's comments on Brexit at the weekend, which many commentators interpreted as signalling that the UK would pursue a so-called "hard Brexit".

In early trade on Tuesday the pound was down 0.3% against the dollar at $1.2126, and 0.6% lower against the euro at €1.1432.

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