JD pounces as JJB raises £30m
2nd Feb 2011 07:11
JD Sports has confirmed speculation it has made an offer for struggling rival JJB Sports, though adds discussion are at a very early stage. "There can be no certainty that an offer will be made by JD Sports Fashion for JJB Sports, nor as to the terms on which any offer might be made," it said. "
Read moreJD Sports buys Champion
25th Jan 2011 13:43
Sports fashion retailer JD Sports Fashion has exchanged contracts to acquire Irish rival Champion Sports Holdings. JD Sports is advancing €17.1m to Champion in the form of a secured loan. This will be used to pay off Champion's debt, excluding €2.5m of finance lease commitments. JD Sports says t
Read moreLondon close: Lower finish as US jobs disappoint
7th Jan 2011 16:35
Leading shares were in the red heading into the weekend after a weak jobs report in the US. Monthly nonfarm payrolls revealed just 103,000 jobs were added in December. Much less than economists had hoped for. Back over here, miners were mostly lower as commodity prices struggle. Copper specialists
Read moreLondon afternoon: Footsie still in red
7th Jan 2011 14:58
Leading shares remain in negative territory as a weak jobs report in the US prevents Wall Street from heading higher. The Dow Jones is currently down a couple of points after monthly nonfarm payrolls revealed just 103,000 jobs were added in December. Much less than economists had hoped for. Back o
Read moreBroker tips: Carnival, JD Sports, JKX
7th Jan 2011 13:14
Nomura expects cruise operator Carnival to recover the pricing power lost during the recession caused by the booking curve, and raises its earnings estimates for 2011. The Japanese broker says that Carnival's results during 2010 have reflected this recovery, with net revenue yields at constant curr
Read moreBroker snap: Upgrades at JD after update
7th Jan 2011 12:57
Broker finnCap says that shares in JD Sports remain cheap at a discount to the retail sector, and the stock is worth a 'buy' following a great trading update that beat expectations. The sport-themed fashion chain reported Friday that like-for-like sales over the 5-week Christmas period were up 2.5%
Read moreLondon midday: FTSE 100 stuck below 6,000
7th Jan 2011 12:13
The top share index has been sitting stubbornly below 6,000 points, but could spring into life when US non-farm payroll figures are released this afternoon. Estimates are for about 150,000 new jobs to have been added in December. Elsewhere, it's a quiet morning so far. There has been a further de
Read moreLondon open: Blue chips lower ahead of jobs data
7th Jan 2011 08:51
London has fallen back below 6,000 as investors sit on their hands ahead of the non-farm payrolls data coming out of the US this afternoon. Estimates are for about 150,000 new jobs to have been added in December. Elsewhere, it's a quiet morning so far. There has been a further development in the s
Read moreLondon pre-open: Subdued opening expected
7th Jan 2011 07:38
Ahead of this afternoon's release of December's US non-farm payrolls data, investors are adopting a wait and see posture. City traders expect the Footsie will open two or three points down from last night's close. There has been a further development in the simmering dispute between shopping centre
Read moreJD Sports to trump forecasts
7th Jan 2011 07:03
The Christmas snow was no problem for sport-themed fashion chain JD Sports Fashion, which did so well it now thinks full-year profits will beat expectations. Like for like sales for the five weeks ended 1 January grew 2.5% and cumulative like for like sales for the 48 weeks are up 3.1%. They were u
Read moreFTSE 250 movers: M&A speculation making headlines
20th Dec 2010 15:42
The London Stock Exchange Group is among the high risers in the index Monday afternoon after yesterday's bid speculation in the Sunday Times. It was reported Sunday that Abu Dhabi was in talks to acquire a 20% stake in the company from Dubai, as it seeks to take control of the of the financial empi
Read moreJJB Sports likely to breach banking covenants
2nd Dec 2010 07:50
JJB Sports says it is likely to breach its banking covenants as sales continue to fall short of expectations at the sports shop chain. Trading conditions have been "extremely challenging" since it last updated the market early last month and the company thinks this has been exacerbated by the curre
Read moreWednesday tips round-up: BHP Billiton, JD Sports, Cranswick...
17th Nov 2010 06:56
Given the strength of its balance sheet, BHP's stock is cheap, with Barclays Capital putting it on a multiple of just above nine times forecast earnings for the 2011 calendar year. The mining sector, on the other hand, trades on an average of eight times. That premium is far too slight for such a
Read moreLondon close: Battering for miners and banks
16th Nov 2010 17:08
It was downhill almost all the way for Footsie in the afternoon session after the US opened sharply lower, with miners getting a real bashing on the prospect of a slow-down in the Chinese economy. No less an authority than star fund manager Anthony Bolton raised the prospect today, in the first set
Read moreLondon afternoon: Gloomy miners
16th Nov 2010 14:10
Footsie retreated further over the lunch time session with mining stocks largely responsible for the decline, as metal prices pull back on fears that China will act to cool down its economy in the interests of reining in inflation. Antofagasta, Kazakhymys, Fresnillo, Xstrata and Rio Tinto are t
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