Updates from Sainsbury's and Tullow Oil

Updated: 
The FTSE 100's rise was checked yesterday, down -1.58 points to 6,726. The biggest faller was Aberdeen Asset Management, down -4.51% to 416.90p on bidding war anxiety over Scottish Widow Investment Partnership. CRH climbed +3.21% to 1609p.

The Dow Jones saw a 32-point loss, slipping to 15,750.67.
We commence with a 9% pre-tax profits hike for Sainsbury's, to £433m, and a like-for-like sales increase excluding fuel up 1.4%. More worrying for the competition, Sainsbury's has now overtaken Asda as Britain's second biggest supermarket.

Total Sainsbury's market share climbs to 16.8%, its highest rate in a decade. Including fuel, total sales climbed 4.4% to £13.95 billion. Sainsbury's claim operational cost savings of around £55 million, on track for around £100 million for the full year.

"Whilst customers' budgets remain tight," says chief exec Justin King, "and any recovery in the economy may take time to take effect, our consistent strategy and strong values-driven culture mean we are well placed to continue to deliver for customers."

Next, Tullow Oil and an interim for the period 1 July to 13 November. Strong production across the group is claimed, on track to deliver 84,000 to 88,000 boepd [barrels of oil equivalent per day] for the full year.

Its Jubilee field may deliver average 2013 production of around 100,000 bopd. Upcoming drilling campaigns in Kenya, Ethiopia, Norway and Guinea are planned; Tullow though recently had to part-suspend drilling operations in Northern Kenya due to jobs protest pressure.

"Tullow remains confident," it says "it will add 200 million boe to its resources this year - as it has averaged annually for the past six years - and exit 2013 with oil production at record levels."

Lastly, an update from Barratt Developments for the 19 week period from 1 July to 10 November. The house builder says private forward sales are up 47%, with total forward sales worth £1,127.4m compared to £768.5m in 2012.

Barratt claims it has continued to secure excellent land opportunities that meet minimum hurdle rates, with 8,150 plots (2012: 3,685 plots) approved in the period. Strong interest in Help to Buy is helping, adds the housing operator.

"In London and the South East," says Barratt, "where the land market is more competitive, we are targeting more complex, larger sites which play to our competitive strengths, and also public sector land where we have a strong track record of success."