Another Tesco boss buys shares after dive

Another director of Tesco has picked up shares just days after a profits warning knocked their price down by nearly 20 per cent.

Non-executive director Ken Hydon, the former finance director of Vodafone, spent £96,000 buying 30,000 shares at 320p. That lifts his total stake to 182,000 shares. Richard Broadbent, Tesco's new chairman, bought a similar number of shares last week. The US billionaire Warren Buffett, meanwhile, has upped his stake to just above 5 per cent.