supermarkets

'Defensive area of the market again'

Sales below forecasts

'Unloved' sector picking up

New holding in European Focus fund

Supermarkets on the rise

The unresolved Greek debt crisis has put renewed pressure on the FTSE 100 this morning, negating the effects of the rally in supermarkets stocks on back of Tesco's Q1 results.

UK CPI inflation has turned negative for the first time on record, as the recent slump in the oil price continues to put deflationary pressures on the UK economy.

Tesco has reported a worse than expected full-year loss of £6.4bn, after £7bn in one-off charges arising from a "very difficult" 2014 dragged it into the red.

Another group of shareholders in Tesco is preparing legal action against the food retailer following its accounting blunder late last year.

UK supermarket Sainsbury's reported a drop in retail sales for the fourth quarter of 2014 as it warned its market will "remain challenging for the foreseeable future"