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SharePrice.com - UK Share Information - Sunday, 20th April 2014

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Tesco Rallies on Possible Turnaround News


Wednesday, 16th April 2014

Tesco shares climbed by three percent, giving the company’s Chief Executive, Philip Clarke, some breathing space, allowing him to pursue his long term plans to invest one billion pounds in store refurbishments and price cuts in a bit to revive the struggling chain.

Tesco, and other supermarkets such as Asda and Sainsbury, are currently under pressure from foreign discount stores such as Aldi and Lidl. Even traditionally higher-end stores such as Marks and Spencer with is Simply Food chains are feeling the pressure, and struggling to match prices offered by out of town discounters that specialise in volume trade. Many analysts are concerned that the more traditional supermarkets may lose a price war if they allow one to begin, thanks to high rent, long leases, and weaker purchasing power.

The good news for Tesco temporarily boosted supermarket shares, however, with Morrison seeing a share price rise of 1.2p, and Sainsbury matching that increase. Other non-food retailers also benefited, with Sports Direct International being the top performer of the day, gaining 42p thanks to a positive note from broker Bank of America Merrill Lynch, who said that they saw strong trading potential thanks to their online growth and the chains plans to expand into Europe.


Read previous editors articles here


Stock Market Update

Thursday, 17th April 2014

The FTSE closed up before the long weekend with blue chips following financial and insurance stocks higher, while midcaps enjoyed a property-inspired run-up, as Wall St got off to a ...
Thursday, 17th April 2014

FTSE indices were mixed late morning with retail-related and mining stocks dragging the FTSE 100 down, while a mixed bag of midcaps helped the FTSE 250 higher ahead of the ...
Thursday, 17th April 2014

MORNING REPORT: The headline index was modestly lower in early deals today, with little in the way of news for direction and as traders cleared their books ahead of the ...

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