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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: 262.40
Bid: 263.40
Ask: 263.60
Change: -2.60 (-0.98%)
Spread: 0.20 (0.076%)
Open: 264.20
High: 264.40
Low: 261.40
Prev. Close: 265.00
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Sunday share tips: Sainsbury's, Thor Exploration

Sun, 02nd Jul 2023 15:05

(Sharecast News) - The Sunday Times's Lucy Tobin recommended Sainsbury's to readers in anticipation that the recent warm weather that had boosted fashion retailers' toplines likely also benefitted the grocer.

True, expectations for a slowdown in inflation had yet to bear fruit, but Sainsbury's Tu unit was also the sixth-largest clothing retailer by volume.

She also expected Argos would benefit from the weather as well as pay-rise benefits to nominal income too.

On the flip-side, she also believed that would not be reflected in the company's first quarter trading update that was due out on the following Tuesday.

Instead, the cost-of-living crisis was likely to still a drag on its first quarter performance as the grocer was forced to cut prices and increase its offers.

Hence, the tone of the update was likely to remain cautious and its guidance for full-year underlying pre-tax profits of £640-700m unchanged.

"But Sainsbury's shares are still trading below the five-year highs of 336p seen in August 2018, while sitting in a leaner, better-managed business.

"Food inflation will come down, and the stock offers a dividend yield of 5 per cent. Sainsbury's has a decent balance sheet with the possibility of surplus capital being shared with investors in the medium term.

"Check into Sainsbury's".

The Financial Mail on Sunday's Midas column recommended shares of Thor Exploration to readers, banking on the company's expansion plans output increases to drive share price gains.

Thor owns the highly-profitable Segilola gold mine in Nigeria and there was a pipeline of several more projects.

In 2022, the company produced 98,000oz. of the yellow metal for $165m in sales and net profit of over $25m.

For the current year, production should reach 95,000oz. with turnover rising to $176m, Midas said.

Brokers were anticipating growth of 20% on top of that over 2024.

The company's chief executive officer and founder, Segun Lawson, bought a further 6.6m shares in Thor last month and the remainder of the family owned another 15% - a "sure sign of confidence".

Midas also believed that combined holding in the company would prompt Lawson to move ahead with dividends as soon as practicable.

"Nigeria fills many investors with doubt, but Lawson has developed a safe and profitable gold mine just hours from Lagos, staffed by locals and backed by government," the tipster said.

"[...] And at a time of economic uncertainty and sticky inflation, gold prices, currently more than $1,900 an ounce, should remain firm. At 17.5p, Thor is a find for the adventurous investor."

More News
20 Jun 2024 16:16

London close: Stocks rise as BoE holds interest rates

(Sharecast News) - London stocks ended Thursday on a positive note following the Bank of England's decision to maintain interest rates, aligning with market expectations despite the backdrop of decreasing inflation.

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20 Jun 2024 08:58

TOP NEWS: Sainsbury's pays NatWest GBP125 million to take on bank arm

(Alliance News) - NatWest Group PLC on Thursday agreed to buy the retail banking assets and liabilities of Sainsbury's Bank from J Sainsbury PLC.

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20 Jun 2024 08:57

LONDON MARKET OPEN: FTSE 100 climbs before BoE takes centre-stage

(Alliance News) - Stock prices in London largely opened higher on Thursday, in somewhat confident trade ahead of a Bank of England interest rate decision, which comes in the wake of the UK inflation rate returning to target.

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20 Jun 2024 08:11

NatWest swoops on retailer Sainsbury's banking business

LONDON, June 20 (Reuters) - NatWest has struck a deal to acquire most of the banking business of UK retailer Sainsbury's, the companies said on Thursday, in a deal that would increase the British lender's assets by 2.5 billion pounds ($3.2 billion).

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20 Jun 2024 07:50

LONDON BRIEFING: Sainsbury's sells core banking arm to NatWest

(Alliance News) - London's FTSE 100 is set to trade higher in morning dealings, before focus on Thursday afternoon turns to an expected interest rate hold by the Bank of England.

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20 Jun 2024 07:13

NatWest to buy Sainsbury's core banking unit for £2.5bn

(Sharecast News) - Sainsbury's has announced it is selling its core banking business, comprising £2.5bn of outstanding credit card, unsecured personal loan and saving accounts, to NatWest and plans to return a tenth of that amount to shareholders.

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20 Jun 2024 07:07

UK supermarket Sainsbury's to sell banking unit to Natwest

LONDON, June 20 (Reuters) - British supermarket Sainsbury's said on Thursday it had agreed to sell most of its banking unit to Natwest and expected the sale to complete in the first half of next year.

(Reporting by Sarah Young; Editing by Kate Holton)

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19 Jun 2024 09:43

LONDON BROKER RATINGS: Deutsche Bank likes Vodafone and raises Avacta

(Alliance News) - The following London-listed shares received analyst recommendations Wednesday morning and on Tuesday:

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18 Jun 2024 09:42

Wet weather sees slowdown in grocery sales

(Sharecast News) - Fresh data released on Tuesday revealed a slowdown in take-home grocery sales, which increased by just 1.0% over the four weeks to 9 June.

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18 Jun 2024 08:36

TOP NEWS: Food price inflation falls in June on wet spring weather

(Alliance News) - Food price inflation fell for the sixteenth month in a row while sales ticked higher, figures on Tuesday showed.

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18 Jun 2024 08:00

UK grocery inflation edges lower again ahead of election, Kantar says

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Kantar: Grocery inflation at 2.1% in 4 weeks to June 9

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13 Jun 2024 08:59

Shein committed to engage on sustainability, labour when joined UK retail group, BRC CEO says

LONDON, June 13 (Reuters) - Fast-fashion group Shein committed to engage on issues including sustainability and ethical labour policies when it was allowed to join the British Retail Consortium (BRC), the head of the industry body told Reuters.

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7 Jun 2024 12:23

UK's Asda says TDR Capital to become majority owner

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31 May 2024 09:35

Short-lived sunny spell helps boost UK supermarkets

(Sharecast News) - UK supermarket sales pushed higher in May, industry data showed on Friday, boosted by a brief spell of warmer weather.

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31 May 2024 08:00

UK supermarket sales set for Euro 2024 fillip, says NIQ

UK supermarket sales up 3.3% in 4 weeks to May 18 -NIQ

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