On this episode of Stock Movers:
- Sainsbury's has reported strong sales growth after the grocer used price-matching and promotions linked to its loyalty program to entice customers with food inflation accelerating across the UK.
- Zealand Pharma shares rose as much as 5.1%, the most in six weeks, after BNP Paribas Exane analysts initiated coverage on the stock with an outperform recommendation, saying the “attractive” risk-reward at current levels is “difficult to ignore.”
- UK house prices fell the most in more than two years in June, in a sign buyers are under pressure after an increase in transaction taxes in April, according to one of Britain’s top mortgage lenders.