City Diary

The following business news is expected tomorrow:

• Sainsbury's is due to release an update on trading. It has been reported the supermarket giant has been losing ground on some of its lower-cost rivals, which have seen popularity boom as cash-strapped consumers cut back. In the first quarter it saw sales rise by 8.1 per cent, although only 4.5 per cent when fuel is stripped out.

• Also due for a trading update is chocolate and toffee maker Thorntons, which has previously recorded good growth despite the economic downturn.

• On the economic front, the British Retail Consortium's shop price index is due.