Tesco continued its battle with Sir Tom Hunter for Dobbies by raising its stake to 29.9%, an increase of 0.4 percentage points.

On Friday, Hunter increased his stake in the garden centre operator from 26.02% to 26.92% after saying he would not launch a bid for the company. Investors have until 19 August to accept Tesco's £15-a-share bid, which will require the backing of 50% of investors if it is to succeed.