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The impact of the energy crisis on inflation spooked investors with the FTSE 100 sinking 1.6% to 6,967.48.
Tesco jumped 5.0% to 265.55p, having reported a more than doubling of first-half profit and upgraded annual guidance thanks to higher sales, lower Covid-19 costs and an improved performance at its banking unit.
Tesco also announced that it would kick off an 'ongoing' share buyback programme, with a first tranche worth £500 million to be repurchased by no later than next October.
It held its interim dividend steady at 3.2p per share and confirmed it intended to pay a progressive, or rising, dividend, broadly targeting a pay out of around 50% of earnings.
Tobacco giant Imperial Brands dropped 1.4% to £15.325 after it announced that it was on track to meet its profit growth forecast amid higher tobacco prices.
Imperial brands, however, also said a pandemic-related bump to growth thanks to travel restrictions and changes in consumer buying patterns was unwinding as lockdowns ease.
Travel group TUI gained 0.7% to 329.15 even after it launched a €1.1 billion share issue to help it weather ongoing depressed demand during the pandemic.
New shares in TUI were being offered at €2.15 apiece, which TUI said represented a discount of 35% to the theoretical ex-rights price.
TUI announced the raising it delivered a fourth-quarter trading update showing an improvement in bookings in what is nevertheless a relatively tepid market.
Recruitment company Page rallied 6.5% to 652p on news that its third-quarter gross profit rose 65% as job markets bounce back.
Page forecast a full-year operating profit in the region of £155 million, which would mark a rise from £17.0 million in 2020 and £146.7 million in 2019.
Iron-ore producer Ferrexpo fell 0.6% to 308.8p as it reported an uptick in iron ore pellet production in the third quarter.
Total pellet and concentrate production rose 6% year-on-year, but fell 9% compared to the second quarter after the company performed upgrade work.
German business-park investor Sirius Real Estate shed 2.0% to 126.8p despite it boosting first-half rent collections, putting it on track to meet market expectations for its full-year financial performance.
Sirius's like-for-like annualised rent roll in the six months through June rose 2.5% to €98.9 million, up from €96.51 million at March 2021.
Auto dealer Marshall Motor advanced 5.1% to 218.5p after it again upgraded its annual earnings guidance, citing higher sales and margins that are offsetting supply constraints.
Marshall Motor's continuing operating pre-tax operating profit for the year through December now was forecast to be not less than £50 million, the company said.
Flooring retailer Topps Tiles firmed 3.8% to 65p, having upgraded its annual profit forecast on the back of higher sales pinned on a 'buoyant home improvement market' in the UK.
Topps Tiles said it now expected its adjusted pre-tax profit for the 53 weeks to 2 October to be 'slightly above' consensus forecasts.
Current market expectations for Topps range from £13.2 million to £14.0 million, with a consensus of £13.6 million.
Inkjet printing technology group Xaar fell 2.2% to 154.07p on news that it had agreed to sell its 3D printing assets to joint venture partner Stratasys Solutions for up to $33.8 million.