Royal Mail shares were up 1.84 per cent yesterday, but it's been a miserable third quarter, with the stock the worst performing within FTSE 100. A note from AJ Bell today said that profit taking had something to do with it - "but the potential for supply chain bottlenecks and labour shortages have also taken their toll."

It's all eyes on Tesco this morning as the supermarket giant reports its results. Analysts will be looking for online growth and headline writers will be looking at shortages, but perhaps most interested might be private equity as speculation continues to grow that UK supermarkets are still seen as undervalued. Sainsbury's has been most talked about - but who knows?

(c) 2021 City A.M., source Newspaper