The diversified mining group's 1H, which it reports on July 27, will be hurt by higher costs, weaker platinum group metals profitability, foreign exchange and some sales volume disruption in June, the analysts say. However, Sainsbury's is facing increasing competition, with Aldi, Lidl and Amazon all looking to expand in U.K. grocery, he says. (anthony.orunagoriainoff@dowjones.com)---Sainsbury's Drops After Sitting Tight on FY Guidance0933 GMT - Sainsbury's shares top the FTSE 100 fallers, down 1.6% to 270 pence after the U.K. grocer reported first-quarter volume gains, but left its full-year guidance unchanged. "Sustained grocery momentum and a better-than-expected Argos performance is likely to make us more constructive going forward," UBS analysts say in a note. (christian.moess@wsj.com)Contact: London NewsPlus, Dow Jones Newswires;(END) Dow Jones NewswiresJuly 04, 2023 08:51 ET (12:51 GMT)Copyright (c) 2023 Dow Jones & Company, Inc.

Source: Wall Street Journal July 04, 2023 12:56 UTC