Wednesday 13 January 2016

RARE Alert: Tesco's latest trading figures said to be "much" better than expected

I'm afraid I'm a bit light on M&A scoops today but here are few bits of juicy market RARE that I stumbled across whilst scurrying about in the undergrowth.

I'm hearing from good sources that Tesco is poised to unveil "significantly" better-than-expected festive period trading figures, so keep an eye on the tape tomorrow morning for an upbeat statement from the supermarket giant.

Market snouts have also informed me that the Cosmen family, one of the largest shareholders in National Express, may be about to sell a little bit of stock in the market although it's not clear quite how many shares the Spaniards want to flog.

The other gossip doing the rounds today was that Crispin Odey had finished selling a large chunk of Sports Direct stock. In case you don't recall, Odey previously said he was in the process of reducing his exposure in Sports Direct following a profit warning from the sportswear retailer.  

All of the above tales have a RARE disclaimer. In case you don't recall what RARE is, here is the definition:

Market gossip that hasn't been tested through formal journalistic channels (public relations executives, bankers etc). The rumour might be total codswallop but then again there may be something in it, so it's worth airing on Betaville.


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