Tesco Rises 0.87% Before June 18 Q1 Update — Ftse 100 Share Price
Tesco’s ftse 100 share price rose 0.87% to 473.00p on Friday, leaving the stock 4.10p higher for the week ahead of its June 18 first-quarter trading statement. The move kept Tesco below its 52-week high of 508.00p and above its 52-week low of 392.60p. The latest buyback purchase gave the market another signal that management is still returning cash while the update date draws closer.
Tesco’s 1,930,870-share buyback
Tesco said on June 12 that it bought back 1,930,870 ordinary shares on June 11 at an average price of 473.51p each. The repurchased stock will be cancelled. Since the buyback began on April 22, Tesco has bought 66,718,610 shares for £304.2 million, a pace that keeps shrinking the share count even as the company heads toward its next trading update.
473.51p is close to where the shares closed on Friday, which is why the buyback activity and the market price are tracking one another so closely. For holders, the immediate question is whether that cash return can keep supporting the stock if the June 18 statement lands without a fresh earnings surprise.
Ken Murphy and weekly shop costs
Ken Murphy said Tesco will “do whatever we can to help keep down the cost of the weekly shop.” That line matters because Tesco has already posted FY 2025/26 sales excluding VAT and fuel of £66.59 billion, up 4.6%, alongside adjusted operating profit of £3.15 billion and free cash flow of £1.96 billion. The company is also guiding for FY 2026/27 adjusted operating profit of £3.0 billion to £3.3 billion.
3.1% UK grocery inflation in the four weeks to May 17 gives the June 18 update a sharper edge. If sales keep trending higher, as Aarin Chiekrie said they “should see sales continue to trend higher,” Tesco’s buyback and operating guidance will be judged against a market that is still valuing the group at £29.72 billion, or 15.89 times earnings, with a 3.07% dividend yield.
FTSE 100 and Tesco’s range
1.6% was the FTSE 100’s gain on Friday, lifting the index to 10,471.7 points and leaving Tesco in a supportive tape rather than fighting the broader market. The shares still sit below the 508.00p peak from the past 52 weeks, so the next trading statement now has to do more than simply show steady trading; it has to justify why the stock should move closer to that range high.
June 18 is the next hard date for Tesco holders, and the focus will be on whether sales, margins and the buyback can all stay aligned in one print. A stock that finished at 473.00p has left the market with a clean marker: the update must either reinforce that level or force a reset.
