Company
LON:SBRY
J Sainsbury PLC is a United Kingdom-based company principally engaged in grocery and related retailing, and financial services.
782 stories · page 23 of 40
As a result, the bank’s analysts have raised their rating for Sainsbury’s to ‘overweight’ from ‘equal-weight’ and increased their target price to 375p from 300p previously
The UK index of leading shares closed almost 84 points higher at 7,621..
The market researcher said sales at the FTSE 100 supermarket chain were down 0.2% in the 12 weeks to June 17, while all its ‘big four’ rivals saw sales increase
The UK blue-chip index finished over 46 points higher, at 7,555..
MPs have accused Sainsbury's and Asda bosses of "talking baloney" and quoting "Mickey Mouse figures" in response to questions about their proposed merger
The UK Competition and Markets Authority has published a summary of views received from interested parties on the impact of the planned merger of Sainsbury's and Asda
The UK's top share index shed over 131 points at 7,633, while mid-cap brother FTSE 250 was also lower
Archive
The week comes to a close with a first-quarter update from the UK's biggest (but potentially soon to be second biggest) supermarket
The UK's premier share index closed down 7.97 points, or 0.10% at 7,704
Investments and investor services
One City broker expects CMC to reveal a 22% jump in pre-tax profit in its results tomorrow.
Archive
Aside from a trading update from WH Smith, the Week Ahead will also bring full-year results from the likes of AO World, CMC Markets, Auto Trader, and MITIE Group
In the 12 weeks to May 20, Kantar Worldpanel’s industry data showed Sainsbury’s posted sales growth of 1% in the period, well below the grocery market's growth of 2.7%
More than 100 MPs have signed a letter to Theresa May asking the prime minister to take action against Sainsbury's "unscrupulous contract changes"
All interested parties have been asked to submit initial views on the impact the proposed merger of Sainsbury's and Asda could have on competition by June 4
Excluding the impact of the long Easter weekend, Asda saw like-for-like sales rise 1%, an acceleration from the 0.5% rate of growth it enjoyed in the prior quarter
Morrisons was tipped to be one of the main losers from the £15bn merger between the UK’s second and third largest supermarket chains, but that might not necessarily be the case
The Bernstein analysts said: “The combination of the two, assuming the merger goes through, should warrant a 50% re-rating over time, not the 10% we have seen so far.”
The proposed merger of Sainsbury's and Asda faces tough scrutiny from the UK Competition and Markets Authority
The shares have advanced 24% in a little over six weeks, which begs the question: why?
In a note to clients, analysts at Berenberg said Sainsbury’s potential merger with Asda would improve its investment case in all aspects
