Oct 4, 2017

Turbulence for Tesco investors after half-year results

Tesco shares are having a rough ride this morning despite a decent set of half-year results and the reinstating of dividend payments after more than a two-year hiatus. The grocer jumped to its highest level since April when the market opened but took a turn around an hour into morning trading, falling as much as 2.7 per cent from Tuesday's close. Shares in the company have since rebounded and were almost flat at 190p per share shortly before publication time. It was a weak morning for UK supermarkets generally, with J Sainsbury down 0.9 per cent, WM Morrison falling 0.8 per cent and Marks and Spencer 0.5 per cent lower. UBS analyst Daniel Ekstein was also positive about the group's results.

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