Sainsbury, JD Wetherspoon and BHP Billiton

The FTSE 100 continued on a downward trajectory with yesterday's fall across European markets dragging Wall Street lower overnight and extending to Asia this morning, amid ongoing fears over the global economy and weakening commodity prices.

“Supermarket giant Sainsbury’s disappointed investors with underlying profits and like-for-like sales falling,” says AJ Bell Investment Director Russ Mould.

“Expectations were high following Sainsbury’s upbeat figures for the third quarter. But full year sales slipped as it continues to battle against its traditional rivals and discounters Aldi and Lidl. Sainsbury’s is maintaining market share in a competitive and deflationary environment but having bought Argos the challenge now will be to arrest the recent decline in its sales too.

“Pub group JD Wetherspoon’s like-for-like sales are up but margins are getting tighter due to increases in starting rates for hourly paid staff. The group is still aiming for a reasonable outcome for the financial year.

“Miners took up residence at the foot of the blue-chip board amid concerns over weakening commodity prices with BHP Billiton the biggest faller after Brazil prosecutors began a $43bn claim against the group’s joint venture following the failure of a dam at the Samarco plant in November. Brazil’s Federal Public Prosecution Service is seeking social, environmental and economic compensation."

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