J Sainsbury plc (LON:SBRY) stock: buyback price gap puts Argos drag in focus after weekly rally
The London Stock Exchange does not open at weekends, so the Friday close is the last live price for J Sainsbury plc before Monday. The shares ended at 335p, down 2.20p on the day, but the week was still a sharp one: an LSE factsheet put the five-day gain at 6.21%. The less covered number is in Friday’s buyback filing. Sainsbury bought 4,029,109 shares over the five trading days from June 26 to July 2. Based on the daily volumes and volume-weighted prices in the filing, the average price was 319.7p, about 4.6% below Friday’s close. The purchases cost about £12.9 million and equalled roughly 0.18% of the company’s 2.23 billion voting rights as of June 29.