>>a rollercoaster ride for safeway in the shadow of the tesco juggernaut

Safeway’s share price has been on a rollercoaster ride over the last four weeks. Starting at 286p a share, the price hit a high of 306.5p before tumbling to 276p on September 26 when the DTI’s report into the Safeway takeover effectively ruled out any chance of a major bidding war.

Tesco’s shares were relatively unaffected by the announcement but its half-year results, which unveiled like-for-like sales growth of 6.3% and pre-tax profit growth of 17.4%, drove its share price up by 8.8% in September.

But a 10.6% fall in Northern Foods’ shares due to the resignation of chief executive Jo Stewart and a profits warning has decreased our basket’s value by £5 to £934.