Berkshire's (BRK-A) Buffett Getting Bullish on Markets... Super Markets
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Berkshire Hathaway's (NYSE: BRK-A)(NYSE: BRK-B) Warren Buffett may be be getting more bullish on supermarkets.
According to reports Monday, Berkshire is said to have raised it's stake in U.K.'s Tesco PLC from 3.21 percent to 3.64 percent, accumulating 34 million Tesco shares for a sum of about £120 million.
Tesco is set to report earnings for the first half of this year under new CEO Philip Clarke next week. The move could be taken as a sign of confidence from Buffett, who previously criticized Tesco's move into the U.S.
Berkshire is Tesco's third-largest investor, just behind Blackrock (NYSE: BLK) at 5.5 percent, and Legal and General Investment Management at 4.01 percent.
Shares of Berkshire are flat Monday morning after recently closing below $100,000 for the first time in 20 months.
According to reports Monday, Berkshire is said to have raised it's stake in U.K.'s Tesco PLC from 3.21 percent to 3.64 percent, accumulating 34 million Tesco shares for a sum of about £120 million.
Tesco is set to report earnings for the first half of this year under new CEO Philip Clarke next week. The move could be taken as a sign of confidence from Buffett, who previously criticized Tesco's move into the U.S.
Berkshire is Tesco's third-largest investor, just behind Blackrock (NYSE: BLK) at 5.5 percent, and Legal and General Investment Management at 4.01 percent.
Shares of Berkshire are flat Monday morning after recently closing below $100,000 for the first time in 20 months.
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