tesco

Tesco today released an unplanned update to the market, sending shares tumbling in early trading after it slashed its dividend by 75% and warned on profits.

Old Mutual Global Investors' Richard Buxton is considering buying Tesco for the first time in four years, as managers investigate a contrarian opportunity in the stock despite the spectre of dividend cuts.

Tesco is coming under increasing pressure to slash its dividend in order to free-up cash to help it compete against low-cost rivals, with a leading shareholder speaking out over the weekend and analysts predicting a major cut to its payout.

Ardevora UK equities manager Gianluca Monaco is shorting Morrisons while remaining long Sainsbury's ahead of next week's results announcement from the former.

Tesco chief executive Philip Clarke has made a shock departure from the struggling retailer after it issued another profit warning.

Tesco's share price rise this morning has failed to tempt UK equity managers to buy in to the troubled retailer, with leading investors continuing to avoid the stock and the wider sector.

Supermarkets are weighing on the FTSE 100 index today as worries escalate over price wars between the UK's leading food stores.

Billionaire investor Warren Buffett has cut his stake in Tesco, days after the food retailer posted a major profit slump.

Supermarket giant Tesco led the FTSE 100 lower this morning after revealing its profits had dropped off sharply.

Tesco, the UK's biggest supermarket chain, has reported a drop in profits of 23.5% in the first half of its financial year.