Tesco weighs on FTSE as it faces further investigation

Embattled supermarket Tesco has suffered a further blow in the form of an investigation by the industry regulator into its treatment of suppliers.

Shares in Tesco dropped 1.5% to 225p after the the Groceries Code Adjudicator (GCA) said it will join the Serious Fraud Office and the Financial Reporting Council in investigating the supermarket chain, this time to see whether it breached the Groceries Supply Code of Practice. The GCA will look into Tesco's profits and delays in payments to suppliers. Some of the UK market's biggest dividend payers also reported results today, dragging the wider market lower as some fell short of expectations. Dividend stalwart Vodafone reported better than expected third quarter results, noting ...