28 April 2021 | 08:30am
StockMarketWire.com - UK stocks opened higher on a busy day for local corporate earnings brightened by pleasing updates from Lloyds and WPP that offset disappointing numbers from Sainsbury s and Reckitt Benckiser.
At 0821, the benchmark FTSE 100 index was up 24.66 points, or 0.4%, at 6,969.63.
High-street lender Lloyds rallied 4.4% to 45.5p, having reported a jump in first-quarter profit as bad debt provisions fell amid an ongoing economic recovery, offsetting lower income.
Lloyds also upgraded its guidance, forecasting its annual net interest margin to be in excess of 2.45% and its operating costs to fall to about £7.5 billion.
The bank said it was accruing dividends and intended to resume a progressive and sustainable ordinary dividend policy .
28 April 2021 | 07:09am
StockMarketWire.com - Supermarket group Sainsbury s swung to a full-year loss after rising grocery and general merchandise sales were offset by lower fuel sales and costs associated with adapting to the pandemic.
Pre-tax losses for the year through March amounted to £261 million, compared to a year-on-yer profit of £255 million.
Revenue, including fuel sales, edged up 0.2% to £29.05 billion, while revenue excluding fuel rose, 7.3% to £28.84 billion.
Underlying pre-tax profit fell 39% to £356 million.
Sainsbury s declared a final dividend of 7.4p per share, bringing the payout for the full year to 10.6p, which was flat year-on-year.
The company said it continued to expect underlying pre-tax profit in the current financial year to bounce back and that it was comfortable with consensus forecasts of around £620 million.
28 April 2021 | 11:57am
StockMarketWire.com - The FTSE 100 was higher by midday, up 0.4% to 6,972.72, as positive corporate news on both sides of the Atlantic helped lift investor sentiment.
Overnight both Google-owner Alphabet and Microsoft reported quarterly earnings ahead of expectations.
In the UK high Street lender Lloyds rallied 3.3% to 45p, having reported a jump in first-quarter profit as bad debt provisions fell amid an ongoing economic recovery, offsetting lower income.
Lloyds also upgraded its guidance, forecasting its annual net interest margin to be in excess of 2.45% and its operating costs to fall to about £7.5 billion.
The bank said it was accruing dividends and intended to resume a progressive and sustainable ordinary dividend policy .
12 March 2021 | 09:20am
StockMarketWire.com - Supermarket J Sainsbury has appointed former Reckitt Benckiser CFO Adrian Hennah as non-executive director. Adrian will join both the audit and nomination committees on 1 April 2021 and will take over as chair of the audit committee following the AGM.
Hennah said: I am very pleased to be joining Sainsbury s and look forward to bringing my experience to the board. I am familiar with the business through previous roles and have always been impressed by the company s values and commitment to do the right thing for its customers. It is an exciting time to be involved in food retail and I am looking forward to getting started.