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FTSE 100 Rebounds As Morrisons Posts Strong Christmas Sales

U.K. shares rose on Tuesday after Morrisons, the UK's fourth largest supermarket, posted better-than-expected Christmas sales.

The benchmark FTSE 100 was up 23 points or 0.30 percent at 7,719 in late opening deals after declining 0.4 percent the previous day as Prime Minister May launched her most extensive cabinet reshuffle.

Morrison Supermarkets jumped 2.7 percent after it reported a better-than-expected performance over the festive period.

Tesco lost nearly 2 percent after its sales grew 3.1 percent in the 12 weeks to December 31, according to Kantar Worldpanel.

British American Tobacco rose over 1 percent on expectations that tax cuts in the U.S. will boost 2018 EPS.

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