Tesco's new chairman snaps up shares and bonds

Tesco’s new chairman John Allan bought 51,978 shares in the supermarket giant on Tuesday.

Allan, who took over from Sir Richard Broadbent in March, purchased the shares at 192.39p each, amounting to a total value of £100,000.

The chairman also spent a further £186,000 on buying up Tesco bonds. He bought 198,000 medium term notes offering 5.5% annual interest which mature in 2033 for 94.08p each.