Tesco shares are outperforming a falling market, as the supermarket group announced that Warren Buffett had bought more shares.
The so-called Sage of Omaha, the investment guru beloved of US investors, has - through his Berkshire Hathaway group - again raised his stake in Tesco, buying nearly 2m shares on Tuesday. He now owns 242m shares, or 3.02% of the company, worth around £968m.
Buffett was first revealed as a shareholder in the supermarkets group in May 2006, after his insurance and investment company built a 1% stake when the shares were just over 300p. He has been adding to the shareholding gradually ever since.
News of the most recent purchase has helped lift Tesco 4.25p higher to 400.75p, even as the FTSE 100 falls 39.07 points to 5139.45.
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