Share thoughts

I am absolutely astonished that Sainsbury's shares are valued so lowly, especially considering that the Quatar interest is still there.

It reminds me of Pilkington a few years ago, where Nippon Sheet Glass had over 20% of the company and kept insisting they weren't going to bid.

What's more they are a good solid company with dividends that are not having a rights issue.

Today Justin King said underlying profit rose 11% to £542m as sales increased. Sainsbury’s plan to open 50 convenience stores this financial year and 100 in 2010-2011.

Their full-year dividend will be a total 13.2p per share, an increase of 10% from the previous year. Total sales rose 5.7% to £20.38bn, and like-for-like sales growth – which excludes the impact of new stores – was 4.5%.

Remember as 2008 has shown, shares and other financial assets can go up and down at frightening speed. Don't buy any, unless you know what you are doing and can afford to lose the money.