The FTSE 100 climbed almost 42 points yesterday, finishing the day at 5,473, 0.76% up overall. Randgold Resources was the biggest climber, up +2.95% with ICAP just behind at +2.73%.Overnight, Japan's Nikkei climbed +0.3% while Hong Kong's Hang Seng and the Shanghai Composite Index traded flat.
We commence with a trading update from Sainsbury's. Despite close competition from all sides - increasingly too from players like Aldi and Lidl - Sainsbury's saw like-for-like sales growth of 1.4% for the three months up to 9 June with sales at smaller stores climbing 16%.
Some of this uptick is put down to a Jubilee boost, as some consumers decided to celebrate and stock up. The quarter was characterised by five bank holidays, a royal event and periods of bad weather. Consistent performance year-on-year puts two year like-for-like sales growth at 3.3 per cent, claims Sainsburys.
"We are gaining market share in our core general merchandise and clothing categories. Non-food continues to grow faster than food, and the quarter saw the strongest ever sales week on clothing," said chief exec Justin King. "In particular, the fourth collection of our Gok for TU womenswear looks set to be our most successful to date."
Next up, an interim from JD Sports. Cumulative like-for-like sales for the 19 weeks ended 9 June 2012 improved marginally to +1.5% (Sports Fascias +1.2%; Fashion Fascias +3.0%). Gross margins continue to be under pressure says JD Sports but trading is "in line with expectations".
"This margin pressure and the additional overhead within the group to support International Retail, Brands and Licensing and Multichannel Development will as previously reported impact core retail results, particularly in the first half."
As far as the Blacks acquisition goes, the company says the anticipated level of the operating loss in the current year is £10 million with the potential for a further up to £5 million charge for restructuring.
"It is difficult to be more precise on the short term outlook, but we remain of the view that Black's market position can be exploited profitably in the medium term. Our immediate priority is to significantly improve the customer proposition."
Finally, Scottish oil and gas player Cairn Energy has confirmed its takeover of North Sea oil producer Nautical Petroleum. Cairn offers 450p per share, a 51% premium on Nautical's price on the trading day before the bid announcement.
"The Cairn Directors believe that the acquisition of Nautical is an attractive opportunity to expand its existing portfolio in North-West Europe and to continue its strategy of balancing its transformational exploration portfolio with appraisal and development assets."
Source: money.aol.co.uk
A trend that won't catch on! Mark Wright sells cheesy T-shirts that are emblazoned with his face and name - Daily Mail
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His new TV show wasn't exactly the hit he was hoping it to be, and it's highly unlikely his new merchandise will be too.
Former TOWIE star Mark Wright is selling cheesy T-shirts on his official website that female fans can pick up for a rather expensive 18 per item.
The short-sleeved garments feature images of the Essex lad himself and slogans such as 'I love Mark Wright.'
TV star turned designer: Mark Wright now has women's T-shirts available to buy on his official website
Not so trendy: The short-sleeved T-shirts feature the slogan 'I love Mark Wright' plus pictures of the Essex lad himself
The reality TV star's website boasts eight different styles for fans to choose from, and are even available in children's sizes starting at 5-6 years.
The grey short-sleeved style is clearly for the more avid fans who just feel the need to express their love for Mark, whereas a black style that features an image of Mark in just his underwear, may be popular with the older women.
Mark's very own Essex followers may be keen to snap up one of the pink T-shirts that feature his name with an image of him too.
Essex vs Hollywood: Fans will have a tough time choosing between the pink style and a white design that promotes Mark's latest TV show
Decisions, decisions: Another style is emblazoned with several images of Mark while another simply bears his name
However, those who actually enjoyed Mark's latest show Mark Wright's Hollywood Nights will probably want to get their hands on the white design that was made especially for the ITV2 show.
And one woman who was no doubt given a freebie was Mark's alleged new girlfriend, Chelsea Rashoff.
The 22-year-old volleyball player will no doubt wear hers with pride, especially as Mark is jetting home to the UK today.
Lauren who? U.S. volleyball player Chelsea Rashoff tweeted this photo of her and Mark together
The pretty brunette tweeted a photo of them together the other day where they looked rather cosy.
Mark has revealed that in the second episode of his new show, fans will see how he came to meet Chelsea - who features in the rest of the series.
'Today was a special day. Feeling extra blessed, happy & thankful for meeting some amazing people. Wonderful times together,' Chelsea tweeted after filming the last episode of the show.
Long distance relationship? The pair were spotted looking cosy with one another at a baseball match earlier this month
Source: www.dailymail.co.uk
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