Tesco declared its first year-end dividend since 2014 as it reported a 28% rise in underlying operating profits thanks to improved margins and surging cash generation.
1700:Close Stocks have ended the session just slightly lower, despite cautious commentary from analysts regarding the ongoing trade tensions globally.
Tesco plc: Berenberg upgrades to buy with a target price of 255p.
Berenberg upped its stance on Tesco and Morrisons on Friday as it took a look at the UK food retail sector.
Tesco and Morrisons outperformed their major supermarket rivals in March, while a stumbling Sainsbury's is close to losing its second place to a resurgent Asda.
JP Morgan has added Tesco to its list of 'overweight' best European equity ideas while removing Just Eat and Persimmon from the rankings.
Antofagasta plc: Canaccord upgrades to buy with a target price of 1,090p.
Tesco is a visible turnaround story and the retailer will increasingly be viewed as a capital return stock, JP Morgan analysts said as they rated the shares 'overweight'.
Debenhams is negotiating to rent out space in its flagship department store to hot-desking company WeWork in a move to save costs.
Grocery price inflation eased off in recent weeks, according to two surveys of the sector released on Tuesday, which both found Sainsbury's was the slowest growing of the big four supermarkets.
Analysts at Jefferies upgraded their recommendation for shares of Tesco and Morrisons on Monday from 'hold' to 'buy', explaining that the pound has rallied against the dollar by well above 10% over the past year, while discount supermarkets' new store applications have fallen 25% in the past 2 years.
Tesco: Jefferies upgrades to buy with a target price of 250p.
Tesco and Booker Group shareholders have both voted through the supermarket giant's contentious £3.7bn takeover of the country's leading wholesaler.
Toys R Us went into administration on Wednesday after failing to secure a rescue deal, while electronics retailer Maplin collapsed as talks with a potential buyer broke down.
Tesco will close its Cardiff call centre will close on Friday with the loss of 1,100 jobs despite the efforts of unions to reverse the decision.
Tesco's £3.7bn takeover of food wholesaler Booker suffered a blow after the former's shareholders were advised to vote against the tie-up by advisory firm Institutional Shareholder Services on Thursday.
Tesco has hired consultants to look into a possible launch of a discount grocery chain to try and thwart the fast-growing rivals Aldi and Lidl.
Up to 200,000 of Tesco's female store workers could demand up to £4bn in total from the supermarket group by claiming they were paid less than their male counterparts, after a legal bid was launched on behalf of 100 workers.
The fraud trial of three former Tesco executives has been abandoned after one of the defendants suffered a heart attack.
Supermarket sales increased in value by 3.4% in recent weeks thanks to grocery inflation and a trend for veganism, with the 'big four' groups continuing to lose market share to discounters Lidl and Aldi.