Sainsbury's has reported its first losses for more than a decade.
The supermarket made a statutory pretax loss of £72 million after taking a hit from writedowns on its property portfolio.
Traders seemed to take the news in their stride however, as shares in the grocer were just 0.5p or 0.2% lower at 274.5p in early trading.
Services data due
There could be an uncomfortable hat-trick for the UK economy, as data scheduled for release at 09:30am is set to show that services suffered a pre-election blip like builders and manufacturers.
Companies news highlights:
Britain's competition watchdog is to launch a full review of Poundland’s swoop for rival 99p Stores.
Imperial Tobacco says sales of key brands like Davidoff are up 12%.
City broker Tullett Prebon benefits from higher volatility and the contribution from its new oil trading arm PVM.
Occupancy is down to 94% at shopping centre owner Intu.
Insurer Direct Line sees a slight decline in premium income, as Legal & General benefits from new “pension freedom products”.
Fashion house Hugo Boss misses profit hopes thanks to lower spending by Russian and Chinese shoppers, but says they should recover later this year.
Supergroup says its sales are up but margins will be squeezed by sales and acquisitions.
Wetherspoons boss Tim Martin has another pop at supermarkets as the company posts pub sales up 1.7% in the first quarter.
Currency see-saw: engineer GKN is helped by the strong dollar, but hit by weak euro. Overall its sales are up 1%.
National Express reports revenues up 2% as it lands new coach contracts with British Airways and Stansted Airport.
