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Director dealings: Tesco CEO, CFO buy shares

(Sharecast News) - Two of the director deals disclosed on Friday involved supermarket giant Tesco. Tesco chief executive Ken Murphy purchased 11,961 shares at 418p each, giving a total purchase price of just under £50,000.

Chief financial officer Imran Nawaz made the exact same purchase. Both purchases took place on Friday.

News of the purchases came after Tesco said on Thursday that it expects full-year earnings to be at the top end of forecasts despite a slowdown in underlying sales growth over the key Christmas selling season.

Group like-for-like sales were up 2.4% over the six weeks to 3 January, easing from the 3.1% growth seen over the third quarter to 22 November and the 4.6% jump registered in the second quarter.

Underlying sales growth across the UK slowed to 3.2% over Christmas from 3.9% over the third quarter, though the company still managed to increased its market share over the festive week to 29.4% - its highest in over a decade.

The grocer said fresh food had a "standout performance" in the UK during the third quarter, with LFL sales up 6.6% due to its investments in value and quality, while home and clothing sales rose 2.1% and online sales rose 11.2%.

Elsewhere, Michael Ziff, non-executive director at Town Centre Securities, sold 25,000 shares at 124p each, giving a total sale price of £31,000. The sale took place on Thursday.

Top Director Buys

Tesco (TSCO) Director name: Nawaz,Imran Amount purchased: 11,961 @ 418.00p Value: £49,996.98

Tesco (TSCO) Director name: Murphy,Ken Amount purchased: 11,961 @ 418.00p Value: £49,996.98

Trifast (TRI) Director name: Mills,Nicholas Amount purchased: 20,000 @ 70.00p Value: £14,000.00

Top Director Sells

Town Centre Securities (TOWN) Director name: Ziff,Michael Amount sold: 25,000 @ 124.00p Value: £31,000.00

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Important information: This information is not a personal recommendation for any particular investment. If you are unsure about the suitability of an investment you should speak to one of Fidelity’s advisers or an authorised financial adviser of your choice. When you are thinking about investing in shares, it’s generally a good idea to consider holding them alongside other investments in a diversified portfolio of assets. Past performance is not a reliable indicator of future returns.