Business World

Sunday 24 September 2017

Sainsbury leads European shares higher after update

An investor looks at the stock price monitor at a private securities company in Shanghai (AP)
An investor looks at the stock price monitor at a private securities company in Shanghai (AP)

European stocks edged higher early today, led by British supermarket J Sainsbury after a better-than-expected sales update.

Shares in Sainsbury rose 3.3pc in early trade after it posted a small rise in sales in the 14 weeks to Jan. 4, ahead of analysts' forecasts.

Gains on broader indexes were more muted as investors waited for new signs that the global economy is picking up before committing more money to stocks.

The U.S. private-sector hiring data at lunchtime was due to set the scene for U.S. non-farm payrolls figure on Friday.

The FTSEurofirst 300 index of top European shares was up 0.1pc to 1,320.47 points after hitting a high not seen since mid-2008 at 1,321.47 points in the previous session. The Euro STOXX 50 was also up 0.1pc, at 3,113.32 points.

 

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