London, Feb 16, 2026, 09:04 GMT — Regular session
- Tesco shares eased in early trading, still near the top of their 12-month range.
- Focus turns to UK inflation data this week and Tesco’s April results for fresh direction.
Shares of Tesco (TSCO.L) slipped in early London trading on Monday, down 0.45% at 486.5 pence by 0844 GMT. The stock opened at 488.0 pence and traded as low as 483.5 pence, leaving it about 1% below its 12‑month high, with a market value of about £30.9 billion. (Share Prices)
The move was small. It still matters because the stock is sitting near the top of its 52‑week range — the highest and lowest prices in the past year — and investors are stepping carefully into a week with key data and little fresh company news.
For a grocer, the next nudge often comes from the macro calendar. Inflation and interest‑rate expectations set the tone for consumer spending, and they feed directly into wage and energy costs that retailers cannot dodge for long.
Broader European equities were firmer, with the STOXX 600 up 0.2% by 0844 GMT, as banks rebounded and traders looked ahead to euro zone industrial production data. Analysts led by Deutsche Bank’s Jim Reid said investors still lacked evidence to pick clear winners and losers from newer AI tools, a backdrop that has kept sentiment jumpy. (Reuters)
A weekend column in The Times put some of that “what next?” mood directly on Tesco, pointing to the grocer’s post‑Christmas market share gains and a push on Clubcard offers and tech, including a tie‑up with French AI group Mistral. “Arguably, it’s taken them a decade to turn the Titanic around,” Richard Lim, chief executive of Retail Economics, was quoted as saying. (The Times)
On filings, Tesco has not posted a new regulatory update since a Feb. 2 “Total Voting Rights” announcement on the London Stock Exchange’s RNS feed. (London South East)
The nearest macro marker is Wednesday’s UK consumer price inflation release for January, due at 0700 GMT. Any surprise in the data can shift Bank of England rate expectations quickly, and retailers tend to trade with those swings even when shoppers keep buying food. (Gov)
The bigger company catalyst sits further out. Tesco’s financial calendar lists preliminary results for its 2025/26 year on April 16, followed by a first‑quarter trading statement on June 18. (Tesco PLC)
In the background, the competitive picture has not eased. Tesco still fights Sainsbury’s, Asda and Morrisons for share, while Aldi and Lidl keep a hard ceiling on prices in many staple categories.
But the stock’s resilience can fade fast if the market starts to price in a sharper squeeze on margins — whether from heavier discounting, higher labour costs, or a consumer who keeps trading down even if inflation cools.
For now, traders will watch Wednesday’s inflation print for the next cue, then start looking toward April 16 for Tesco’s update on trading, costs and any change in tone on competition.
