(Alliance News) - UK retail sales volumes rise in March, Computacenter expects to "comfortably" beat expectations and North American Income Trust outperforms its reference indices.
Here is what you need to know before the London market open:
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MARKETS
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FTSE 100: called down 0.8% at 10,375.91
GBP: lower at USD1.3465 (USD1.3500 at previous London equities close)
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ECONOMICS
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UK retail sales volumes rose in March and were higher in the first quarter of 2026, official data showed. According to the Office for National Statistics, the volume of retail sales rose by 0.7% in March, following a revised 0.6% fall in February and a revised 1.8% rise in January. Fuel sales jumped sharply on the month, as motorists stocked up on fuel as prices climbed. Total retail sales, excluding automotive fuel, rose by 0.2% on-month, in line with FXStreet-cited expectations. Sales volumes, including automotive fuel, rose by 1.7% over the year to March 2026. This was below the market consensus of a 2% rise. Clothing store sales volumes rose, due to improved weather. Computer and telecoms stores, and non-store retailers, also saw a rise in sales volumes. Retail sales rose by 1.6% in the first quarter of 2026, compared with the fourth quarter of 2025. Non-food stores' sales volumes rose, alongside a strong quarter for cosmetic and toiletries stores.
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BROKER RATINGS
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Morgan Stanley raises British American Tobacco to 'overweight' (underweight)
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Morgan Stanley cuts Imperial Brands to 'equal-weight'
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COMPANIES - FTSE 100
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J Sainsbury starts its GBP300 million share buyback programme, to be completed by the end of this financial year on February 27. The grocer says the first tranche will be for up to GBP200 million and will end on or before the end of the first half of this financial year on September 11. The firm instructs Shore Capital Stockbrokers to carry out the buyback programme.
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COMPANIES - FTSE 250
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Computacenter says it expects to beat full-year market expectations after a "strong performance" during the first quarter which was "well above" its own expectations. The Hatfield, England-based technology services provider says Technology Sourcing revenue increases "particularly strongly", mostly due to hyperscale performance in both the North America and UK. Services revenue also rises ahead of last year, with Computacenter noting "good growth in Technology Sourcing with Professional Services remaining subdued so far this year". The company says its committed product order backlog remains strong at the end of the quarter. It now expects to deliver a "much stronger" performance in the first half of the year than previously expected. For the full year, it remains mindful of the uncertain backdrop, but assuming no significant deterioration to the situation, it now expects to deliver full-year results "comfortably ahead" of market expectations. It puts the analyst consensus at adjusted pretax profit of GBP291.3 million, and between GBP284.5 million and GBP297.1 million. "Looking further ahead, the combination of the strength of our integrated Technology Sourcing and Services model and our geographic diversity, gives us continued confidence in our long-term growth prospects," Computacenter adds.
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OTHER COMPANIES
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North American Income Trust says its total return outperformed both reference indices in the financial year to the end of January. The Edinburgh-based investor in US equities reports a net asset value per share total return of 8.8%, against 4.9% for the Russell 1000 value index and 3.1% for the S&P high yield dividend aristocrats index. NAV per share at the end of the year is 402.8 pence, up from 382.5p a year prior. The firm declares a fourth interim dividend of 4.4 per share, giving a total dividend of 12.8p per share, up 4.9% from 12.2p a year prior. North American Income says the bulk of the outperformance came from stock selection in a "wide variety" of industries. Looking ahead, the board says it remains confidence that it is equipped to distinguish between winners and losers against the uncertain backdrop. "Technological change can be disruptive and geopolitical events are inherently unpredictable, but such episodes can also provide opportunity," says Chair Charles Park.
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Record says its full year earnings expectations remain unchanged despite global volatility, after a third successive quarter of net inflows in the fourth quarter. The Windsor, England-based specialist currency and asset manager reports positive net flows of USD1.4 billion, negative asset moves of USD1.4 billion and negative foreign exchange and scaling movement of USD1.3 billion. Assets under management at the end of March are USD114.6 billion, down from USD115.9 billion. The company books GBP400,000 of performance fees in the fourth quarter, up from GBP300,000 a year prior. This brings performance fees for the full year to GBP2.8 million, down from GBP3.2 billion. It adds that average fee rates in the quarter were broadly unchanged from the previous quarter.
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By Michael Hennessey, Alliance News reporter
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