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  • Sainsbury grows grocery sales and market share while maintaining full-year profit outlook (SBRY)

    Sainsbury grows grocery sales and market share while maintaining full-year profit outlook (SBRY)

    Sainsbury (LSE:SBRY) delivered a solid start to the 2026/27 financial year, with first-quarter total retail sales excluding fuel rising 2.7% to £9.15 billion and like-for-like sales increasing 2.1%. Growth was driven by a 3.6% increase in grocery sales, which more than offset weaker performances in general merchandise and clothing. The retailer said initiatives such as Aldi Price Match, Nectar Prices and continued investment in fresh food and Taste the Difference products helped attract more customers completing larger shopping trips, while also supporting online growth and further market share gains.

    Cost savings and digital strategy remain priorities

    Management reaffirmed full-year guidance for underlying operating profit of between £975 million and £1.075 billion, alongside retail free cash flow of more than £500 million. However, the company cautioned that the potential impact of ongoing conflict in the Middle East remains uncertain for both consumers and the wider business.

    Strategic priorities continue to focus on expanding healthy and affordable food ranges, strengthening the Nectar loyalty programme and retail media operations, accelerating Argos’ digital-first transformation and delivering £1 billion of cost savings by March 2027 through greater use of technology and operational efficiencies.

    Outlook

    Sainsbury’s outlook is tempered by weak technical indicators, with the shares continuing to trade in a broader downtrend and displaying negative momentum. Financial performance remains supported by solid cash generation, although operating margins remain relatively thin and leverage is still meaningful. The company’s valuation provides a counterbalance, underpinned by a relatively low price-to-earnings ratio and an attractive dividend yield.

    More about J Sainsbury plc

    J Sainsbury plc is one of the UK’s largest food and general merchandise retailers, operating Sainsbury’s supermarkets and convenience stores alongside the Argos retail chain. The business focuses on value-led grocery retailing, fresh and healthier food ranges, and expanding digital channels, supported by its Nectar loyalty programme and growing retail media platform.

    The group also sells clothing through its Tu brand and offers a broad range of general merchandise, while continuing to invest in technology, logistics and store operations to improve efficiency and enhance the customer experience across its omnichannel retail network.

  • European Stocks Trade Mixed as Tech Sector Gains on South Korea AI Investment Plan: DAX, CAC, FTSE100

    European Stocks Trade Mixed as Tech Sector Gains on South Korea AI Investment Plan: DAX, CAC, FTSE100

    European equity markets were mixed on Monday, with technology stocks providing support after South Korea unveiled a US$576 billion investment programme aimed at strengthening its leadership in semiconductors and artificial intelligence, backed by Samsung and SK Hynix.

    Germany’s DAX gained 0.1%, while the UK’s FTSE 100 hovered around the flatline. France’s CAC 40 underperformed, slipping 0.6%.

    Energy markets also remained in focus, with crude oil prices edging higher following renewed tensions between the United States and Iran ahead of upcoming peace negotiations in Qatar.

    Technology Stocks Lead Market Gains

    Semiconductor-related shares outperformed across Europe, with ASML Holding (EU:ASML), Infineon (TG:IFX) and STMicroelectronics (BIT:STMMI) (EU:STMPA) advancing between 1% and 3%.

    Among individual movers, Nordex Group (TG:NDX1) climbed around 1% after the German wind turbine manufacturer secured a 325-megawatt project in the United States.

    Dutch technology investor Prosus N.V. (EU:PRX) rose 2.4% after reporting an 84% increase in full-year adjusted core profit.

    French pharmaceutical group Ipsen (EU:IPN) gained 1.7% after announcing an agreement to acquire U.S.-based Kartos Therapeutics in a transaction valued at up to US$1.75 billion.

    Meanwhile, BT Group (LSE:BT.A) added around 1% after reaching an agreement with Verizon (NYSE:VZ) to combine their international operations through a new joint venture.

  • Market Open: BT-Verizon Joint Venture, Smiths News Contract

    Market Open: BT-Verizon Joint Venture, Smiths News Contract

    FTSE 100 edges lower as BT and Verizon unveil a global venture, Smiths News secures a major contract and Brent crude remains in focus.

    Market Overview

    UK markets opened little changed, with the FTSE 100 easing marginally after the previous session, while European trading was mixed. The FTSE 100 slipped 0.00 per cent to 10,507.83, the Euronext 100 gained 0.06 per cent to 1,898.60 and Germany’s DAX advanced 0.17 per cent to 24,724.34. Overnight, the Nasdaq closed lower at 25,297.62 and the S&P 500 finished slightly down at 7,354.02. Investors continued to monitor developments in the Middle East alongside corporate news including BT’s strategic partnership with Verizon.

    Commodity markets reflected ongoing geopolitical caution. Brent crude edged higher as traders assessed renewed US-Iran tensions and developments involving Qatar, while copper softened and gold was little changed. Against sterling, the US dollar strengthened slightly, while the euro and Swiss franc were broadly steady and the Japanese yen weakened. Bitcoin traded slightly higher versus the pound.

    Market Numbers

    FTSE 100: Down, 10,507.83
    Euronext 100: Up (+0.06%), 1,898.60
    DAX: Up (+0.17%), 24,724.34
    NASDAQ: Down, 25,297.62
    S&P 500: Down, 7,354.02

    In the Headlines

    Global telecoms venture – BT Group (LSE:BT.A)
    BT and Verizon will combine their international enterprise businesses into a 50:50 joint venture with around $4 billion in annual revenue. The deal is intended to strengthen global connectivity services for multinational customers while allowing both companies to focus more closely on their domestic markets.

    Distribution contract – Smiths News (LSE:SNWS)
    Smiths News has secured a long-term agreement to continue distributing Associated Newspapers titles. The contract provides greater revenue visibility and reinforces the company’s position within the UK newspaper distribution market.

    Currencies (vs GBP)

    USD: Down (-0.01%), $1.3197
    CHF: Down (-0.01%), Fr.1.0690
    EUR: Up (+0.00%), €1.1591
    JPY: Up (+0.01%), ¥213.511
    AUD: Up (+0.01%), $1.9136
    Bitcoin (BTC/GBP): Up (-0.33%), £45,361.59

    Commodities

    Copper: Down
    Gold: Down
    Brent Crude: Down
    Natural Gas: Down

  • European Stocks Trade Cautiously as Middle East Risks Keep Investors on Edge: DAX, CAC, FTSE100

    European Stocks Trade Cautiously as Middle East Risks Keep Investors on Edge: DAX, CAC, FTSE100

    European equity markets were broadly subdued on Monday as investors assessed the stability of the temporary ceasefire between the United States and Iran, while firmer oil prices renewed concerns about inflation.

    The pan-European STOXX 600 slipped 0.03% to 635.66 points after a volatile trading week that produced only limited gains. Germany’s DAX, France’s CAC 40 and the UK’s FTSE 100 were little changed, while Italy’s FTSE MIB eased 0.2%.

    Investor sentiment remained cautious following renewed military action between Washington and Tehran over the weekend after an attack on a commercial vessel near the Strait of Hormuz. Although both sides later agreed to suspend further retaliatory strikes ahead of technical talks scheduled for Tuesday in Doha, uncertainty surrounding the situation discouraged investors from taking significant new positions.

    Oil prices moved modestly higher as traders continued to monitor the potential impact of disruptions to shipping through the strategically important Strait of Hormuz. The renewed focus on geopolitical tensions and energy-driven inflation followed last week’s technology-led market weakness, when concerns over elevated valuations weighed on artificial intelligence-related stocks across global markets.

    Attention is now shifting towards a busy week of economic events. Investors are awaiting the latest U.S. non-farm payrolls report, which is expected to play a key role in shaping expectations for Federal Reserve policy and whether markets continue to anticipate two additional 25-basis-point interest rate increases before year-end.

    In Europe, June readings for consumer confidence and business sentiment are also due later in the day. Market participants will closely follow comments from European Central Bank President Christine Lagarde at the opening of the ECB’s Sintra Forum, looking for further guidance on the outlook for Eurozone interest rates, with markets currently expecting at least one additional ECB rate increase this year.

    Among individual stocks, Nagarro (TG:NA9) surged 90% after receiving takeover approaches, while Prosus (EU:PRX) gained 2% following the release of its full-year financial results.

  • FTSE 100 Slips Despite Iran Ceasefire Calm as BT Announces Verizon Venture

    FTSE 100 Slips Despite Iran Ceasefire Calm as BT Announces Verizon Venture

    UK equities opened lower on Monday despite signs of easing tensions between the United States and Iran, while investors also digested fresh comments from the Bank of England and developments in UK politics. The FTSE 100 fell 0.20%, while Germany’s DAX rose 0.18% and France’s CAC 40 slipped 0.16%. Sterling strengthened 0.13% against the US dollar to 1.3220 as of 03:23 ET (07:23 GMT).

    J.P. Morgan lifted its year-end target for the FTSE 100 to 11,000 from 10,300, implying around 5% upside from the index’s current level of 10,508.

    Bank of England Chief Economist Huw Pill warned that policymakers must remain focused on bringing inflation back to target, following May’s Consumer Prices Index reading of 2.8%.

    “I think it should be seen as problematic, because our mandate is very clear; inflation at 2% at all times,” Pill said, adding “I do fear a little bit that, because we saw inflation go to 11%, policy discussion becomes, ’oh inflation at 3% is not so bad’.”

    Pill, who voted for a rate increase at the Bank’s most recent policy meeting, also suggested that monetary policy “hasn’t been restrictive enough over the last few years.”

    Meanwhile, Labour leadership frontrunner Andy Burnham is expected to outline plans in Manchester for a wide-ranging devolution agenda centred on reindustrialisation, infrastructure investment, housing and greater decision-making powers for local authorities. The proposals are also expected to include reforms to public procurement aimed at supporting UK employment and measures to reduce youth unemployment.

    Geopolitical tensions remained in focus after a US official said Washington and Tehran had agreed to “stand down for now” following renewed exchanges around the Strait of Hormuz over the weekend.

    “Both sides will stand down for now and vessels can move freely,” the official said, adding that technical talks on the memorandum of understanding remain “on track.”

    The announcement followed renewed military action after US Central Command carried out strikes against Iranian military targets, accusing Tehran of failing to honour the ceasefire following an attack on a tanker near the Omani coast. Iran responded with strikes against US military bases in Kuwait and Bahrain, claiming eight facilities had been targeted and warning that any further breach of the ceasefire “will lead to a complete halt of ongoing processes.”

    US President Donald Trump also warned on Truth Social that the United States would “complete the job” if Iran failed to comply, adding that “the Islamic Republic of Iran will no longer exist” should hostilities continue.

    Despite the temporary stand-down, uncertainty over shipping through the Strait of Hormuz remains unresolved. Iranian Foreign Minister Abbas Araghchi warned that attempts to bypass Iran’s preferred shipping route would “increase tensions”, while the Islamic Revolutionary Guard Corps said it would continue to oversee traffic through the waterway. Multiple transit routes are now being managed by different authorities, adding to uncertainty for global shipping.

    Oil prices edged higher as traders balanced the easing of immediate military tensions against continuing risks to energy supplies. Brent crude rose 0.73%, while WTI gained 0.98%. Gold prices weakened as demand for traditional safe-haven assets eased, with gold futures falling 0.53% to US$4,074.47 per ounce and spot gold declining 0.71% to US$4,060.21.

    UK Corporate Round-Up

    BT (LSE:BT.A) agreed to combine its international enterprise operations with Verizon (NYSE:VZ) in a 50:50 joint venture expected to generate around US$4 billion in annual revenue. Under the agreement, Verizon will make a US$625 million equalisation payment to BT, while the UK telecoms group also updated its earnings and revenue guidance to reflect the planned separation of its international operations.

    Haleon (LSE:HLN) has reportedly submitted a bid for US supplements manufacturer Thorne, according to Reuters. The move would expand Haleon’s presence in the approximately US$70 billion US dietary supplements market. Thorne, which was acquired by L Catterton in 2023 for US$680 million, is understood to have attracted interest from several strategic buyers.

    AstraZeneca (LSE:AZN) and its partner Daiichi Sankyo (TG:D4S) received a positive recommendation for European Union approval of Datroway as a first-line treatment for triple-negative breast cancer. The recommendation follows Phase III trial data showing the therapy extended median overall survival by five months compared with chemotherapy.

  • Wynnstay Grows First-Half Profit as Project Genesis Improves Efficiency and Margins (WYN)

    Wynnstay Grows First-Half Profit as Project Genesis Improves Efficiency and Margins (WYN)

    Wynnstay Group PLC (LSE:WYN) reported a stronger first-half financial performance, with adjusted operating profit rising nearly 10% to £5.80 million despite revenue remaining broadly unchanged at £304.10 million. The agricultural supplies group said the improvement was driven by its Project Genesis transformation programme, which delivered greater operational efficiency, lower costs and enhanced commercial performance across the business.

    Adjusted earnings per share increased 15.5% during the period, while net income reached £4.93 million. Gross profit totalled £42.30 million, operating profit was £6.10 million and profit before tax came in at £6.20 million. On an adjusted basis, pretax profit was £6 million. Within the group’s operating divisions, Feed & Grain benefited from stronger margins, the integration of the GrainLink trading platform and the closure of underperforming operations. Meanwhile, the Arable division was supported by higher volumes of manufactured fertiliser and improved performance from the Avonmouth blending facility.

    Reflecting improved cash generation and a stronger balance sheet, Wynnstay increased its interim dividend. The company said trading in the second half has begun in line with board expectations and reiterated that it expects full-year results to meet current market forecasts while improving on fiscal year 2025. Management also highlighted a healthy fertiliser order book and continued operational progress as positive indicators for the remainder of the year.

    More about Wynnstay Group PLC

    Wynnstay Group PLC is a UK-based agricultural supplies business serving farmers and rural enterprises across England and Wales. The company provides a broad range of products and services, including animal feed, grain marketing, fertiliser, seed, crop protection products and specialist agricultural advice, operating through its Feed & Grain and Arable divisions.

  • BT and Verizon to Form $4 Billion Global Enterprise Connectivity Joint Venture (BT.A)

    BT and Verizon to Form $4 Billion Global Enterprise Connectivity Joint Venture (BT.A)

    BT Group (LSE:BT.A) and Verizon (NYSE:VZ) have agreed to combine their international enterprise businesses into a new 50:50 joint venture expected to generate around $4 billion in annual revenue. The venture will serve more than 3,000 multinational customers across over 180 countries by bringing together BT International’s expertise in secure communications with Verizon’s international wireline operations to create a next-generation platform designed for AI, cloud and advanced connectivity services.

    Under the agreement, both companies will retain equal voting rights, with Verizon making a $625 million equalisation payment to BT. The transaction allows each business to sharpen its focus on domestic operations while benefiting from greater scale and efficiency across their global enterprise networks. Martijn Blanken has been appointed CEO-designate of the new company, which aims to accelerate the deployment of secure, compliance-focused connectivity solutions and expand sovereign-ready services for multinational organisations. Subject to regulatory approvals, the transaction is expected to complete in 2027.

    BT’s investment outlook remains supported by resilient underlying financial performance, including solid operating cash flow and EBITDA generation. However, revenue growth has remained subdued, leverage remains elevated and free cash flow has come under pressure. Progress on the company’s transformation programme and management’s strategic guidance provide positive support, although valuation remains relatively demanding based on its price-to-earnings multiple, while technical indicators are broadly neutral to slightly negative.

    More about BT Group plc

    BT Group plc is one of the UK’s largest telecommunications companies, providing fixed-line, mobile, broadband and enterprise network services to consumers, businesses and public sector organisations. Through BT International, the group delivers secure global connectivity and communications services to multinational enterprises.

    Verizon Communications Inc. is a leading US telecommunications and technology company offering wireless, wireline and enterprise connectivity solutions. Its international business provides secure networking, cloud connectivity and digital infrastructure services to corporate customers operating across global markets.

  • Smiths News Secures Long-Term Associated Newspapers Distribution Contract (SNWS)

    Smiths News Secures Long-Term Associated Newspapers Distribution Contract (SNWS)

    Smiths News (LSE:SNWS) has signed a new long-term distribution agreement with Associated Newspapers Limited, the publisher of the Daily Mail, The Mail on Sunday and The i Paper. The contract, which will run until July 2037, expands the company’s exclusive distribution territories to effectively cover the whole of Great Britain from January 2028. Smiths News expects the enlarged agreement to generate approximately £105 million in additional annual revenue and includes a commitment to freeze retailer delivery service charges throughout the life of the contract.

    The latest agreement follows the recently announced News UK contract and means Smiths News has now secured around 36% of the national newspapers and magazines distribution market from 2028. The company plans to expand its national distribution network to support the additional workload, further strengthening its position within the UK’s print media supply chain. Management said further details on the financial impact of the new contracts will be provided alongside its preliminary results later in 2026, reinforcing confidence in the group’s long-term growth prospects.

    Smiths News’ investment outlook is supported by attractive valuation metrics and positive technical indicators. A relatively low price-to-earnings ratio and a high dividend yield enhance the investment case, while recent chart signals point to improving market momentum. Although the company continues to generate solid cash flow and maintain operational efficiency, investors will continue to monitor its relatively high debt levels and negative equity position.

    More about Smiths News PLC

    Smiths News PLC is the UK’s largest newspaper and magazine wholesaler, providing early-morning distribution and end-to-end supply chain services for national and regional publishers. With more than 200 years of operating history, the company serves over 22,000 retail customers across England and Wales. In addition to print distribution, Smiths News has expanded into warehousing, reverse logistics, waste recycling and final-mile delivery services across a range of product categories.

  • Amaroq Begins Maiden Drilling at Ilua Rare Earth Prospect in South Greenland (AMRQ)

    Amaroq Begins Maiden Drilling at Ilua Rare Earth Prospect in South Greenland (AMRQ)

    Amaroq Ltd. (LSE:AMRQ) has commenced its first drilling programme at the Ilua Pegmatite rare earth element prospect in South Greenland, marking the start of the company’s 2026 exploration campaign. Located within the Nunarsuit licence area, the project sits in the highly prospective Gardar Alkaline Province, a region regarded as increasingly important for expanding Western supplies of critical minerals and reducing dependence on traditional rare earth producers.

    The initial scout drilling programme will evaluate three priority targets across a pegmatite system extending for at least 5km. The campaign follows encouraging surface sampling completed in 2025, which returned total rare earth oxide grades of up to 2.3%, including approximately 27% heavy rare earth elements, while also recording low radionuclide levels. Previous mapping, channel sampling and mineralogical studies have identified commercially attractive minerals such as monazite and britholite. The drilling is designed to provide the first assessment of the project’s subsurface scale, continuity and economic potential, potentially offering a simpler development route than many of Greenland’s more technically challenging rare earth deposits.

    The programme represents another step in Amaroq’s strategy of expanding its portfolio of strategic mineral assets alongside its established gold operations. Success at Ilua could strengthen the company’s exposure to the growing demand for secure, non-Chinese supplies of rare earth elements used across advanced manufacturing, renewable energy and defence industries.

    More about Amaroq Ltd.

    Amaroq Ltd. is an independent mine development company focused on the exploration and development of gold and strategic mineral assets across South Greenland. Its flagship asset is the wholly owned Nalunaq gold mine, supported by a broader portfolio of projects targeting copper, nickel, rare earth elements and other critical minerals across two recognised gold belts, as well as advanced prospects including Stendalen and the Sava Copper Belt.

    The company is incorporated under the Business Corporations Act of Ontario and wholly owns Nalunaq A/S under the Greenland Companies Act, positioning it as a significant participant in Greenland’s growing mining industry and the development of Western critical mineral supply chains.

  • Investors Eye Tech Rebound as AI Demand Faces Fresh Scrutiny: Dow Jones, S&P, Nasdaq, Wall Street Futures

    Investors Eye Tech Rebound as AI Demand Faces Fresh Scrutiny: Dow Jones, S&P, Nasdaq, Wall Street Futures

    U.S. stock futures moved higher on Wednesday as markets attempted to recover from a sharp technology-led sell-off, while investors looked ahead to key earnings results and developments across the artificial intelligence sector for signs of continued momentum.

    At the same time, lower oil prices and easing geopolitical tensions continued to provide support for broader market sentiment.

    Wall Street Futures Regain Ground

    After a difficult session for technology and semiconductor stocks, futures pointed to a more positive start on Wall Street.

    By 08:22 GMT, Nasdaq futures had risen 0.5%, while S&P 500 futures gained 0.2%. Dow Jones futures, however, slipped 0.16%.

    Investors were encouraged by stronger-than-expected business activity figures and a continued retreat in crude oil prices as concerns over disruptions linked to tensions between the United States and Iran eased.

    Attention is now focused on Micron Technology (NASDAQ:MU), whose quarterly earnings are expected to provide insight into demand for AI-related hardware and infrastructure.

    As one of the world’s leading memory-chip manufacturers, Micron is viewed as an important gauge of spending trends across data centres and advanced computing platforms.

    Nvidia Hardware Commands Premium Prices in China

    Demand for Nvidia’s (NASDAQ:NVDA) latest AI systems remains exceptionally strong despite ongoing U.S. export restrictions.

    According to the Financial Times, Nvidia’s DGX B300 servers are being sold through unofficial channels in China for more than 8 million yuan ($1.1 million), roughly double the price seen six months ago.

    The trend highlights the continued appetite for advanced AI computing power in China and reinforces Nvidia’s dominant role in the sector despite geopolitical restrictions.

    Meta Faces Increased Government Oversight

    Meta Platforms (NASDAQ:META) has reportedly been asked by the Trump administration to voluntarily submit its artificial intelligence models for federal review, according to the New York Times.

    The report notes that Meta is currently the only major U.S. AI company not participating in the government’s evaluation framework.

    The request follows a broader push by Washington to increase oversight of advanced AI technologies, particularly those with potential national security implications.

    For investors, the development underscores the growing importance of regulation as a factor shaping the future of the AI industry.

    Honeywell Aerospace Draws Attention Ahead of Index Inclusion

    Honeywell Aerospace is set to join both the S&P 100 and S&P 500 following its separation from Honeywell International (NASDAQ:HON).

    The company will replace Honeywell in the S&P 100 and take the place of Conagra Brands (NYSE:CAG) in the S&P 500 when the changes take effect on 29 June.

    The prospect of index-related buying helped lift when-issued shares by more than 9% in after-hours trading.

    Alphabet Added to the Dow

    Alphabet (NASDAQ:GOOG) will become a member of the Dow Jones Industrial Average later this month, replacing Verizon (NYSE:VZ).

    The move reflects Alphabet’s growing significance within the U.S. economy and the increasing role of artificial intelligence in shaping corporate growth and investment trends.

    While the Dow comprises only 30 stocks, inclusion often boosts a company’s profile and can generate additional demand from benchmark-tracking investment funds.