Supermarket giant Tesco is set to deliver interim results tomorrow, but after having 12 per cent knocked off the value of its shares over the last 12 months, consensus among traders is not bullish. Christmas approaches, but against a backdrop of rising prices and falling sales – both domestically and internationally – it is hard to see how the prospect of festive cheer alone will reverse its slide. GFT Markets quotes a price of 331.8p-332.6p for Tesco.
Traders have been taking their money off the table ahead of Sainsbury’s trading update on Wednesday. Despite the supermarket being expected to show it is outperforming rival Tesco, traders have been profit-taking after Sainsbury’s hit 16-month highs above 350p last week. Spreadex quotes a price 345.7p-346.7p for Sainsbury.
Helped by a late summer rally, Halfords Group has moved into a higher gear recently. However, shares are still down by over 10 per cent this year. Traders will be expecting to see marked improvement in trading figures, released on Thursday, if shares are to continue their rally. The retailer may have seen a boost from the UK’s cycling performance at the Olympics, but it may be too early to see a Wiggins rally just yet. IG quotes a price of 260p-262p for Halfords Group.