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Pin to quick picksSainsbury's Share News (SBRY)

Share Price Information for Sainsbury's (SBRY)

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Share Price: 277.20
Bid: 279.00
Ask: 279.20
Change: -0.20 (-0.07%)
Spread: 0.20 (0.072%)
Open: 275.80
High: 279.80
Low: 274.80
Prev. Close: 277.40
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Cyclical stocks lift UK equities off six-week lows; Wood Group rises

Tue, 22nd Aug 2023 17:13

Blue-chip FTSE 100 snaps seven-day losing streak

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Wood Group raises annual profit outlook, shares rise

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Precious metal miners lead gains

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FTSE 100 up 0.2%, FTSE 250 adds 0.7%

Aug 22 (Reuters) - Britain's blue-chip FTSE 100 index climbed off six-week lows on Tuesday, powered by gains in beaten-down cyclical sectors, while shares of John Wood Group advanced after the company raised its annual profit outlook.

The FTSE 100 was up 0.2% while the midcap FTSE 250 index gained 0.7%. Both indexes snapped seven-day losing streaks.

Precious metal miners jumped 2.8%, marking their best day since May 31, as the sector led gains.

Construction and materials, automobiles and parts and travel and leisure indexes also gained between 0.7% to 1.5% in the rally of cyclical sectors.

John Wood Group climbed 4.1% after the oilfield services and engineering firm raised its expectations for annual adjusted core profit.

"It is a relatively light data calendar this week, meaning that there are fewer risks to any rally for a few days, certainly until Friday when (U.S. Federal Reserve Chair Jerome) Powell is scheduled to speak at Jackson Hole," said Stuart Cole, chief macro economist at Equiti Capital.

"The market may simply be taking advantage of these calmer waters."

Meanwhile, shares of the defensive personal care and retail sectors slipped 0.4% and 0.8%, respectively, indicating investors' risk-on mood.

Industrial metal miners rose 1.8% as copper prices were buoyed by firm consumption data in China and more Chinese monetary support measures.

Investor focus will now shift to the Jackson Hole Symposium due later in the week, where major central bankers, including Powell, will share their views on the trajectory of global monetary policy.

Data on Tuesday showed sales growth at British supermarkets slowed in August due to a hit to demand from unseasonably wet weather. Shares of both Marks and Spencer and Sainsbury fell over 0.8%.

Britain's largest sportswear retailer JD Sports Fashion led declines on the FTSE 100 as the stock slumped 6.9% after a weak forecast from U.S. peer Dick's Sporting Goods' . (Reporting by Shreyashi Sanyal and Khushi Singh in Bengaluru; Editing by Eileen Soreng and Mark Potter)

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7 Feb 2024 08:46

TOP NEWS: J Sainsbury sets share buyback, promises "enhanced returns"

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7 Feb 2024 07:27

Sainsbury's to increase capex to drive profit leverage

(Sharecast News) - Sainsbury's announced its 'Next Level Sainsbury's' strategy on Wednesday, aiming to drive profit leverage from sales growth.

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6 Feb 2024 15:27

HSBC upgrades Sainsbury's to 'buy'

(Sharecast News) - HSBC upgraded Sainsbury's to 'buy' from 'hold' on Tuesday and lifted the price target to 310p from 300p as it took a look at European food retail.

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6 Feb 2024 09:53

CORRECT: Barclays cuts Entain; HSBC raises Sainsbury

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LONDON BROKER RATINGS: Barclays cuts Entain; HSBC raises Sainsbury

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30 Jan 2024 09:02

TOP NEWS: UK grocery price inflation slowdown pauses in January

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London close: Stocks finish higher as US inflation cools

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26 Jan 2024 13:52

JPMorgan Cazenove cuts Tesco, Sainsbury's price targets

(Sharecast News) - Tesco and Sainsbury's were in the red on Friday after JPMorgan Cazenove cut its price targets on the shares, saying it remains cautious on the UK grocery space fundamentally, which based on its investor feedback "appears still to be a contrarian stance".

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26 Jan 2024 09:07

LONDON BROKER RATINGS: Morgan Stanley ups Rightmove; Deutsche cuts IHG

(Alliance News) - The following London-listed shares received analyst recommendations Friday morning and Thursday:

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19 Jan 2024 11:19

Grim UK retail sales knock sterling and lift gilts

LONDON, Jan 19 (Reuters) - The pound sagged and UK government bond prices rose on Friday, after a shock drop in British consumer spending in December raised the risk of recession, putting a stop to the currency's recent gains.

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19 Jan 2024 10:50

UK retail sales slump points to new risk of recession

Retail sales slump 3.2% in December, biggest drop since Jan 2021

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18 Jan 2024 09:26

Sainsbury's to gradually withdraw from banking

LONDON, Jan 18 (Reuters) - British supermarket Sainsbury's said on Thursday it would wind down its banking business and instead offer financial products through third parties, as part of a strategy to focus on its core retail operations.

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18 Jan 2024 08:56

Sainsbury's completes Financial Services review, hires new Bank CEO

(Alliance News) - J Sainsbury PLC on Thursday said it has completed a strategic review of its Financial Services division and is exploring a number of options, while it has appointed a new chief executive officer for its Bank division.

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(Alliance News) - Stocks in London are set to open flat on Thursday, following a sharp decline on Wednesday as investors pared back their bets on interest rate cuts.

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