Less Ads, More Data, More Tools Register for FREE

Pin to quick picksJJB.L Share News (JJB)

  • There is currently no data for JJB

Watchlists are a member only feature

Login to your account

Alerts are a premium feature

Login to your account

London close: Late rally fizzles

Tue, 18th Sep 2012 16:50

A late rally which briefly looked like it might see Footsie venture into positive territory for the first time all day was nipped in the bud right at the death.Equities had a dull but fretful day, which started with concerns over China becoming involved in a trade war with the US and a military war with Japan, and ended with investors partly comforted about developments in Spain, where this morning's government debt auction went about as well as could be expected. With Spain feeling increased pressure to request assistance, the Treasury was able to issue 12 and 18-month bills for €4.6bn, more than the top end of the €3.5 - €4.5bn target.18-month bills were issued for €1.02bn (maturity: February 21, 2014) at a yield of 3.072%, lower than the previous 3.335%. 12-month bills were issued for €3.56bn (maturity: September 20, 2013) at a yield of 2.835%, lower than the previous 3.07%.In the UK, inflation data was in line with forecasts. The Consumer Prices Index (CPI) measure of inflation dropped to 2.5% in August, down from 2.6% in July, helped by falls in the price of clothing and footwear, furniture and household equipment, and domestic gas. The consensus estimate had been for a rise of 2.5%. Sportswear firms in focusSports fashion-wear firm JD Sports is having a few teething problems with the integration of the Black's Leisure store portfolio it acquired a while back. The firm said Blacks had made an initial loss of £10m, as expected, due to a critical lack of stock and unsustainable cost base. The retailer's stricken rival, JJB Sports, shot up on reports that a new potential bidder may have thrown its hat into the ring for the company which put itself up for sale last month.According to Sky News, privately owned Stafford Group, which owns a sporting chain in Ireland, is interested in acquiring JJB.Elsewhere on the high street, department store group Debenhams saw like-for-like (LFL) sales rise 3.7% in the final 10 weeks of its financial year, which ran to September 1st. For the full-year, LFL sales were up 1.6%. Despite the sales figures being better than expected, the company did not increase profit guidance for the year, which may account for why the shares closed little changed.Results from house-building and construction firm Galliford Try were well received. The group saw profits soar last year, paving the way for its full-year dividend pay-out to almost double, from 16p to 30p.Financial and legal training provider Wilmington moved to the head of the class after reporting increased profits as it successfully chased higher margin work over the 12 months to the end of June. Broker actionBroker downgrades put insurance titan Aviva on the skids, pushing the stock's dividend yield beyond seven per cent; BofA Merrill Lynch has downgraded Aviva to 'under-perform', although the target price has been raised to 360p from 330p, while Deutsche bank has moved to a 'hold' recommendation and edged up the target price from 360p to 375p.Imperial Tobacco and British American Tobacco did well after Nomura lifted its price targets on both this morning. Berenberg has initiated coverage of household goods colossus Unilever at buy. Mixed fortunes for extractorsGold exploration company Condor is celebrating a mineral resource of 2.41m ounces of gold equivalent at its wholly-owned La India Project in Nicaragua, with gold up 46 per cent to 2.375m oz, well ahead of the year-end target of 2.0m gold.The industrial dispute at Lonmin's South African operations drags on but there have been developments. Lonmin workers have been offered an additional one-time payment in exchange for them returning to work at the platinum mining company on Wednesday. A letter written by Lonmin directors to its workers is believed to have offered a 1,500 rand ($182, 140 euro) bonus in addition to an offer for an increased monthly wage of 1,875 rand ($227). The bonus will only be given if workers return on Wednesday.Things are not going so well for Royal Dutch Shell. After announcing delays to its offshore exploration programme in Alaska on Monday, reports on Tuesday suggest Royal Dutch Shell is also struggling with production targets in Iraq.Other marketsOil prices remain on the slide, despite the White House quashing rumours that strategic oil reserves may be released. The most active futures contract for Brent crude was off 30 cents to $113.47 a barrel.Gold for December delivery rose $2.10 to $1,772.70 an ounce, reversing losses seen in the morning.Investors nibbled away at gilts after the inflation data, with the benchmark 10-year gilt's yield easing 5/100 of a percentage point at 1.88%.FTSE 100 - RisersBritish American Tobacco (BATS) 3,243.00p +2.82%United Utilities Group (UU.) 707.50p +2.76%Diageo (DGE) 1,718.00p +2.05%Imperial Tobacco Group (IMT) 2,362.00p +1.90%Bunzl (BNZL) 1,103.00p +1.38%Reckitt Benckiser Group (RB.) 3,627.00p +1.31%Severn Trent (SVT) 1,708.00p +1.07%Vodafone Group (VOD) 175.40p +1.01%National Grid (NG.) 685.50p +0.96%Pennon Group (PNN) 739.50p +0.75%FTSE 100 - FallersAviva (AV.) 344.90p -3.98%GKN (GKN) 228.30p -3.63%ICAP (IAP) 338.10p -3.48%IMI (IMI) 931.50p -3.17%BP (BP.) 438.95p -2.78%Royal Bank of Scotland Group (RBS) 267.10p -2.66%Lloyds Banking Group (LLOY) 38.85p -2.50%Kazakhmys (KAZ) 742.00p -2.43%Prudential (PRU) 821.50p -2.32%Tullow Oil (TLW) 1,411.00p -2.29%FTSE 250 - RisersDechra Pharmaceuticals (DPH) 592.50p +4.13%Galliford Try (GFRD) 690.00p +2.68%Genus (GNS) 1,432.00p +2.29%PayPoint (PAY) 746.50p +2.26%Centamin (DI) (CEY) 90.65p +2.20%Carpetright (CPR) 672.00p +1.97%Talvivaara Mining Company (TALV) 170.90p +1.73%BH Global Ltd. USD Shares (BHGU) 11.7 +1.39%COLT Group SA (COLT) 122.40p +1.24%BH Global Ltd. GBP Shares (BHGG) 1,170.00p +1.04%FTSE 250 - FallersImagination Technologies Group (IMG) 534.00p -6.07%Laird (LRD) 229.80p -5.78%Homeserve (HSV) 227.90p -5.59%Victrex (VCT) 1,371.00p -5.38%Ocado Group (OCDO) 69.70p -5.30%Inchcape (INCH) 376.80p -4.44%Electrocomponents (ECM) 226.50p -4.31%Paragon Group Of Companies (PAG) 208.20p -4.19%Ferrexpo (FXPO) 215.30p -4.01%Aquarius Platinum Ltd. (AQP) 50.90p -3.96%FTSE TechMARK - RisersAEA Technology Group (AAT) 0.090p +20.00%Gresham Computing (GHT) 71.50p +8.33%Skyepharma (SKP) 100.00p +5.26%FTSE TechMARK - FallersPace (PIC) 159.25p -4.21%Emblaze Ltd. (BLZ) 46.00p -3.66%Promethean World (PRW) 23.00p -2.13%E2V Technologies (E2V) 135.00p -2.00%Phoenix IT Group (PNX) 147.00p -2.00%JH
More News
5 Jan 2012 08:26

London open: Footsie creeps higher

Footsie is tip-toeing higher in early trade, with tech stocks, oils and banks leading the way. Oilfield services firms Petrofac and Schlumberger are to combine forces on a number of production projects in the emerging and growing production services and production enhancement market. The companies

Read more
5 Jan 2012 07:18

Second half picks up at JJB

Beleaguered sports retailer JJB Sports said overall trading improved in the second half of the year with like for like sales over the key four week Christmas period up 5%, in line with company expectations. Margins also recovered in the last four weeks, with like for like cash gross margins up by 6

Read more
31 Oct 2011 08:58

London open: Miners weigh down Footsie

Banking giant Barclays is a rare bright spot in London after a better than expected third quarter update, as stocks head lower. Miners Vedanta Resources, BHP Billiton, Xstrata and Rio Tinto are the biggest fallers among the top-share index constituents, as metal prices head south. Barclays said it

Read more
31 Oct 2011 07:10

JJB Sports battles on as losses grow

Half year losses widened at sports retailer JJB Sports and revenue plunged nearly 23% as UK retail conditions deteriorated towards the end of its second quarter. The beleaguered retailer warned that full year expectations were likely to fall short of company expectations. Loss before taxation wid

Read more
12 Aug 2011 16:40

London close: Stocks soar as outlook brightens

Stocks were posting meaty gains heading into the weekend after four Eurozone countries banned short-selling banking stocks and strong retail sales in the US. France, Italy, Spain and Belgium have banned short-selling of financial stocks in an attempt to prevent further slides in banking stocks' sha

Read more
12 Aug 2011 12:25

London midday: Stocks give up weak start

London's leading share index is posting strong gains now, in line with mainland European bourses following the short selling ban. France, Italy, Spain and Belgium have banned short-selling of financial stocks in an attempt to prevent further slides in banking stocks' share prices. Barclays and oth

Read more
12 Aug 2011 08:39

London open: Oil stocks drag Footsie into the red

Shares picked up after a steep decline in the opening minutes, but the FTSE 100 was still trading 0.7% down by 08.39am, as London looks set to experience another day of volatile trade. Oil-related stocks were on the fall in early trade as the price of Brent Crude fell 0.85% to $107.10 per barrel a

Read more
12 Aug 2011 07:14

Sports retailers welcome OFT decision

Shares in sports retailers Sports Direct International and JJB Sports jumped on Friday following the initial decision by the Office of Fair Trading (OFT) to drop its investigation into the sector. The UK consumer and competition authority announced on Thursday that it has "provisionally decided to

Read more
25 May 2011 11:18

Long slog ahead for JJB Sports

Troubled retailer JJB Sports extended its losses in 2010 and said turning the company around would take up to five years. The firm made a pre-tax loss of £181.4m on revenues of £362.9m in the 52 weeks to the end of January 2011. This was more than double the £68.6m loss that JJB posted in the prev

Read more
21 Apr 2011 18:17

Surprising demand for premium priced JJB shares

Cash-strapped sportswear retailer JJB got a surprisingly strong response to the open offer aspect of its recent share issue, given that the shares were offered at a substantial premium to the prevailing market price. The company said it received valid acceptances in respect of 17.23% of the shares

Read more
6 Apr 2011 15:38

JJB to issue shares at substantial premium

Details of the long awaited share placing by cash-strapped sportswear retailer JJB Sports have been released, resulting in a much needed boost to the share price. The company is proposing to raise £65m (gross) and £60m (net) through a placing and open offer of 162.5m shares at 40p each, a significa

Read more
22 Mar 2011 16:57

London close: Carnival sinks

A confident start was derailed by worse than expected inflation figures and a rally in the final hour of trading only brought out profit takers right at the death, leaving Footsie in the red. UK annual inflation rose faster than predicted in February, as surging utility bills drove up living costs.

Read more
22 Mar 2011 14:09

London afternoon: Downward drift continues

Footsie lost more ground over the lunch time session as Wall Street opened mixed, failing to carry on the strong advance seen yesterday. GKN is lower on speculation of a bid for French peer Latecoere. The French aerospace firm, which provides doors for Boeing and Airbus, is looking for a buyer, acc

Read more
22 Mar 2011 12:22

Creditors back JJB

Investors who piled into the shares of troubled sportswear retailer JJB Sports ahead of the vote on the company's proposed restructuring called the outcome correctly, as creditors backed the company's plans. JJB said the CVA (Company Voluntary Arrangement) proposal was approved without modification

Read more
22 Mar 2011 11:39

London midday: Inflation shock spoils the party

Disappointing inflation data seems to have put paid to Footsie's attempts to continue its recent revival. The inflation rate, as measured by the consumer prices index, rose to 4.4% in February from 4.0% in January. The rate topped market expectations of a figure of 4.2% and will pile on the pressur

Read more

Login to your account

Don't have an account? Click here to register.

Quickpicks are a member only feature

Login to your account

Don't have an account? Click here to register.