STOCKS TO WATCH

UK supermarket chain Sainsbury's held annual guidance despite slower first quarter sales as the war in Iran and Lebanon continued to cause uncertainties for customers. Like-for-like sales in the in the 16 weeks ended 20 June rose 2.1%, down from the previous quarter's 3.1% and short of estimates of 2.7%. Sainsbury's still expects to deliver total underlying operating profit of between £975m and £1.075bn, and retail free cash flow of more than £500m.

Serviced offices provider International Workplace Group said on Tuesday that it has increased its 2026 share buyback programme by $50m, taking the total to $150m. IWG said the move was being carried out under authority granted at its AGM on 19 May, covering up to 145.91m ordinary shares. After purchases already made since the meeting, the maximum number of shares the company may still buy under that authority stands at 138.23m.

NEWSPAPER ROUND-UP

The French sports gear retailer Decathlon and a Chinese investment group that was an early backer of Labubu soft toys have bought stakes in the British folding bike maker Brompton, as its boss said the cycling market was recovering from a slump in sales. Decathlon has acquired a 10% stake in the manufacturer while BA Capital has bought 5% in a deal understood to collectively be worth about £18m. – Guardian

All-night slot machine shops and casinos could face a £460m tax rise if Andy Burnham acts on his concerns about the gambling industry as prime minister, after an influential thinktank found the policy would have public support. Known by some in the gambling sector as "slot sheds", adult gaming centres have flooded UK high streets in recent years, disproportionately targeting economically deprived areas. – Guardian

WH Smith's former high-street business is on the brink of insolvency after a judge delayed ruling on its restructuring plan. TG Jones, which formerly traded as WH Smith on the high street, warned it would struggle to pay millions of pounds in bills due on Tuesday after Mr Justice Hildeyard said he needed more time to decide the complex case. The delay threatens to push the retailer to the brink of collapse, putting around 480 stores across Britain and 5,000 jobs at risk. – Telegraph

Labour is poised to legalise pavement delivery robots despite concerns about the safety of pedestrians. Transport ministers will consult on plans to allow the autonomous machines, which can deliver takeaways and groceries, to travel along pavements at up to 4mph - faster than the average walking speed of 3mph. – Telegraph

Seven of the country's largest building companies face a £4.5bn class action over claims that alleged anti-competitive practices resulted in higher prices for homebuyers. The claim is being led by Mark McLaren, a former legal affairs manager at the consumer group Which?, against Barratt Redrow, Bellway, The Berkeley Group, Bloor Homes, Persimmon, Taylor Wimpey and the Vistry Group. – The Times

US CLOSE

Major indices traded higher on Monday, with the Dow Jones closing above 52,000 for the first time as technology shares rebounded after a difficult week, while investors monitored a pause in hostilities between the US and Iran that left questions over the durability of the agreement and the outlook for Middle East oil supplies.

At the close, the Dow Jones Industrial Average was up 0.59% at 52,182.74, while the S&P 500 advanced 1.18% to 7,440.43 and the Nasdaq Composite saw out the session 2.07% firmer at 25,820.14.

Reporting by Iain Gilbert at Sharecast.com