FTSE 100 movers: Supermarkets lead downside after Sainsbury lowers outlook
Sainsbury was in the red after it cut its annual sales forecast and said it was reviewing its dividend. Its second quarter figures were better-than-expected, although it still posted a drop of 2.8% in like-for-like sales.
FTSE 100
8,078.86
17:14 25/04/24
International Distributions Services
274.00p
17:09 25/04/24
Morrison (Wm) Supermarkets
286.40p
16:55 26/10/21
Sainsbury (J)
256.60p
16:40 25/04/24
Tesco
289.80p
16:45 25/04/24
Sector peer Morrisons also dropped, while rival Tesco saw its share price further hit after the Financial Conduct Authority notified the grocer it will be looking into the incident, alongside an independent review by Tesco’s accountants Deloitte.
Tesco said it would continue to co-operate fully with the FCA and other relevant authorities considering the matter.
BG Group was knocked lower by Credit Suisse which restated its 'underperform' rating on the stock and cut its target price from 1,115p to 1,050p.
Royal Mail was one of just a few stocks on the up after UBS analysts upgraded their view on Royal Mail to ‘neutral’ from ‘sell’, believing anticipated difficulties have been priced in.
Royal Bank of Scotland rose thanks in part to target price increases from both Numis and Citigroup, from 368p to 370p and from 330p to 350p, respectively.
FTSE 100 - Risers
Royal Mail (RMG) 396.00p +0.97%
Intertek Group (ITRK) 2,640.00p +0.72%
G4S (GFS) 252.00p +0.52%
Mondi (MNDI) 1,015.00p +0.40%
Imperial Tobacco Group (IMT) 2,672.00p +0.30%
Wolseley (WOS) 3,250.00p +0.25%
Royal Bank of Scotland Group (RBS) 369.00p +0.22%
British Sky Broadcasting Group (BSY) 883.50p +0.17%
GlaxoSmithKline (GSK) 1,415.00p +0.14%
Lloyds Banking Group (LLOY) 76.97p +0.13%
FTSE 100 - Fallers
Sainsbury (J) (SBRY) 236.10p -6.12%
Morrison (Wm) Supermarkets (MRW) 159.50p -5.23%
BG Group (BG.) 1,089.00p -4.47%
International Consolidated Airlines Group SA (CDI) (IAG) 352.30p -4.03%
Johnson Matthey (JMAT) 2,807.00p -3.84%
Tesco (TSCO) 179.50p -3.60%
Petrofac Ltd. (PFC) 1,001.00p -3.47%
Antofagasta (ANTO) 703.00p -2.50%
Weir Group (WEIR) 2,440.00p -2.48%
British Land Co (BLND) 685.50p -2.42%