Market Pricing of BOE's Interest-Rate Rises Seen -2-

1114 GMT - J. Sainsbury looks set to report upbeat first-quarter trading on July 4, Barclays says. The U.K. grocer is likely to release an encouraging statement, with retail like-for-like sales excluding fuel rising 9.7% versus 7.8% in the prior quarter, Barclays says. Grocery-market share data suggests relatively strong sales momentum and warmer weather should have helped the retailer's general-merchandise sales, the bank says, increasing its 2023-24 pretax profit forecast to GBP690 million from GBP675 million, toward the upper end of the company's guidance range of GBP640 million-GBP700 million. "However, given it's still relatively early in the financial year, we would be surprised if Sainsbury changed its guidance at this stage," the analysts say in a note. ([e-mail])

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06-30-23 0834ET