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Tesco Share Price Declines After Positive Week

Tesco Share Price Declines After Positive Week

It was a disappointing day for Tesco PLC (TSCO) shares after a relatively positive week. Having opened the day at 191.74p the shares initially rose to 194.99p but then started falling and hit a low of 189.20p after midday. However, they recovered slightly and closed the day at 191.15p. While the shares closed down 0.16% for the day they are still up 5.48% for the week and 6.48% for the month.

The fall came after Cantor Fitzgerald yesterday announced that it has placed Tesco shares ‘Under Review’ having issued a positive statement above the company earlier in the week. Last week Citigroup and Exane BNP Paribas reiterated their ‘Neutral’ assessments and set target prices of 190p and 180p respectively.

Investors also seem to be torn in regards to Tesco. On Thursday 52.33% of Tesco shares that were traded were sold while 47.67% were bought.

OCA News Editor

Jenny McKinnley is OCA’s financial correspondent. After spending years on the trading floor in both NY and London, she offers insight from the inside out on world financial news and events.

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