Tesco shares climb as supermarkets sign up to new deal code

<p>Tesco’s shares have advanced as the supermarket signs up to a new fair deal code.</p>

Tesco's share price has advanced on the London Stock Exchange this morning (November 30th), as the supermarket signed up to a new code of practice ensuring prices and deals are fair to customers.

Eight retailers have agreed to the system, which has been set up following an Office of Fair Trading investigation on how prices are displayed and promoted, after concerns were raised that some outlets had been inflating the cost of products to make sales appear more attractive.

In addition to Tesco – which is the largest supermarket chain in the UK – seven other stores are adhering to the new code, including Sainsbury's, Marks and Spencer, Morrisons, Waitrose, Aldi, the Co-op and Lidl.

Asda has controversially decided not to sign up to the system, claiming it does not apply to it due to its current commitment to keep prices low for customers.

At 10:40 GMT, Tesco's shares rose by 0.3 per cent to 326.20p.

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