Tesco’s half-year profits have fallen 10% as the supermarket giant grapples with the impact of “significant” cost inflation.
Alongside the decline in headline profits to £1.25 billion for the six months to 27 August, Tesco said its full-year performance will be towards the lower end of previous guidance.
On commodity markets, traders are braced for OPEC to announce a cut in production quotas in response to the weaker demand outlook.
