Tesco buyback speeds up as grocery sales lag inflation
Tesco PLC is leaning on its buyback programme to offer support as food retail volumes remain weak. On Wednesday, the company reported it bought 5 million shares on June 30 at an average price of 461.92p. Since April 22, Tesco has repurchased 107.6 million shares for £491.3 million. The group has £258.7 million of the £750 million programme left, equal to about 0.9% of its latest quoted market value. London's quote was closed and at least 15 minutes delayed. Regular LSE hours are 0800 to 1630 BST, Monday to Friday. Hargreaves Lansdown listed Tesco at 460.00p to sell and 460.20p to buy, with 15.9 million shares traded. The FTSE 100 ended 0.2% lower.