Sainsbury Surges as U.K. Grocer Defies Gloom With Profit BoostBy
Stock surges as much as 14% on signal of improving outlook
Gain is biggest since 2009 and lifts shares of other grocers
J Sainsbury Plc posted its biggest share gain in almost six years as Britain’s third-biggest supermarket said profit will beat expectations, surprising investors at a time when U.K. grocers are embroiled in a price war with German discounters.
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