MARKET TALK: Tesco 1Q A 'Mixed Bag' - Hargreaves

15th Jun 2010 08:19

0719 GMT [Dow Jones] Tesco's (TSCO.LN) first-quarter trading update is a mixed bag, says Richard Hunter, Head of UK Equities at Hargreaves Lansdown Stockbrokers, following on from a solid if unexciting set of full year figures two months ago. Says Asian sales are strong, but U.K. sales are flat. "Coupled with weakening demand and easing food inflation, Tesco is struggling to make the kind of headway to which the market has become accustomed," he says. Says the update is unlikely to lead to upgrades. Shares -0.5% at 390p. ([email protected]) Contact us in London. +44-20-7842-9464 [email protected] (END) Dow Jones Newswires June 15, 2010 03:19 ET (07:19 GMT)