Tesco Plc saw a rise in its shares after announcing a £700 million share buyback, which coincided with the completion of the sale of its retail banking operations to Barclays Plc.
The new buyback program will begin after the current £1 billion share repurchase program is completed.
Tesco's shares in London increased by up to 1.1% in response to this news, reflecting positive investor sentiment.
This move to return capital to shareholders highlights Tesco's commitment to enhancing shareholder value following the divestiture of its banking business.