Tesco Shares Fall on UK Price-Cap Concerns
Tesco shares fell 1.2% to 454p by 0901 BST as UK ministers pressed supermarkets on voluntary price caps and announced new anti-profiteering powers. The FTSE 100 slipped 0.4%. Morgan Stanley began coverage of Tesco with an “overweight” rating earlier in the week. UK inflation eased to 2.8% in April, but food and fuel costs remain under scrutiny.