Tesco shares jump on good Christmas sales

<p>Tesco has made gains on the FTSE 100 thanks to a prosperous Christmas.</p>

Tesco's share price has jumped on the London Stock Exchange (LSE) this afternoon (January 10th), after the supermarket reported strong Christmas sales.

The store has maintained its place as the country's biggest retailer by reporting that sales grew by 1.8 per cent excluding petrol, VAT and new store openings in the six weeks to January 5th.

Food sales were particularly strong thanks to a successful festive promotional campaign, while there was a marked rise in online grocery purchases, with these sales climbing by 18 per cent as more households took advantage of Tesco's home delivery service.

During the same time last year, the company reported a 2.3 per cent fall in sales.

Tesco chief Philip Clarke commented: "Whilst our seasonal performance is encouraging, there is a lot more to do and the team is focused on delivering further improvements for customers in 2013."

At 12:25 GMT, Tesco shares rose by more than two per cent to 356.75p per unit.

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