Shares in convenience food group Greencore rallied strongly this week after the company announced its share buyback scheme was oversubscribed.

Greencore shares are up 5% this week to £1.96.

Buyback scheme

Last week, the group announced that its share buyback scheme, which will see the company buy shares back from investors at a price of £1.95 per share, had been oversubscribed.

The group will return around £509m (€580m) to investors via this share buyback scheme.

Of the other listed agribusiness plcs, there were gains this week for Total Produce (+6%), Tesco (+3%) and IPL Plastics (formerly One51) shares (+5%).

In contrast, shares in Donegal Investment Group were down 2% in the week to €8.65, while Aryzta shares dropped 5% to €0.94.

Oil

On oil markets, the price of Brent crude oil has been relatively steady this week and is currently trading at just under $62/barrel.