The latest Investing Matters Podcast with Jean Roche, Co-Manager of Schroder UK Mid Cap Investment Trust has just been released. Listen here.

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 midday: Miners lead the fallers

Mon, 24th Sep 2012 12:15

Today's morning session has started the week off in much the same way as the weather has: gloomily. Investor sentiment has been knocked by renewed concerns over the single currency region following France and Germany's failure to agree a schedule for initiating shared oversight of the region's banking sector. Miners were leading the fallers by lunchtime, following a call from analysts at JP Morgan to take profits in the sector because stalling economic growth in the US and more significantly in China, are expected to offset the US Fed´s third round of asset purchases. Furthermore, JP Morgan analysts have specifically recommended avoiding shares of Khazakmys and Anglo American.It was announced this morning that Business Secretary Vince Cable is soon to unveil the creation of a one billion pound business bank to help increase lending to companies. He will tell the Liberal Democrat party conference in Brighton that the bank would "get behind" good businesses and be up and running in 18 months. The government will put up £1.0bn and hopes this will be matched by private sector investment. Meanwhile, a survey has revealed that Britons are now even more concerned about inflation, according to Markit, a survey conductor, with repondents saying they expect living costs to rise sharply. Around 66% of those surveyed said their day-to-day living costs have risen since August, matching what was seen in the monthly index which measures inflation perceptions, which showed the strongest month-on-month increase since November 2010. 40% of respondents said they expected their financial situation to get worse over the next year. Bumi plummetsMining giant Bumi was also weighing on the sector after it said it was investigating allegations of financial and other irregularities at its Indonesian operations. The investigation centres on PT Bumi Resources, in which the company has a 29% interest, with particular focus on that firm's development funds. "The extensive development funds in PT Bumi Resources Tbk and the one development asset in PT Berau Coal Energy Tbk were marked down to zero in the accounts of Bumi plc as at December 31st 2011, except for one investment with a carrying value of $39m in the consolidated financial statements," the statement said. Fund manager Aberdeen Asset Management saw its assets under management (AuM) edge up in the first two months of the second half of the year. AuM at the end of August stood at £184.3bn, up from £182.7bn at the end of June. Gross new business during July and August totalled £6.1bn, but overall the group saw a net outflow of £0.1bn. Shares in JJB Sports were suspended this morning as the firm headed towards administration. The retailer had been searching for a buyer after it failed to raise the funds it needed to attempt a turnaround of the business. Dairy Crest warned of lower first half profits, as challenging conditions continue, but said profit expectations for the full year ending March 31st 2013 remain unchanged. Profit before tax and exceptional items slipped to £14.9m in the six months ended July 28th, from £16.2m in the corresponding period of last year at Irn-Bru maker AG Barr. The company took a £1m hit from adverse currency movements, although around £0.6m of this is expected to unwind in the second half of the year. On a constant currency basis, first half profit before tax was £0.3m behind the similar period in the prior year. Sales in the first seven weeks of the second half have shown double digit percentage growth.Analysts at Bank of America Merrill Lynch have downgraded their view on shares of Anglo American to "neutral" from "buy". Other markets The price of oil has turned south, with the most actively trade futures contract for Brent crude off $1.24 at $91.65 a barrel.The yield on the benchmark 10-year gilt is 1.73%, down from 1.84% earlier this morning. FTSE 100 - RisersGlaxoSmithKline (GSK) 1,445.00p +0.56%Shire Plc (SHP) 1,821.00p +0.39%Smith & Nephew (SN.) 688.50p +0.36%Sainsbury (J) (SBRY) 346.00p +0.32%AstraZeneca (AZN) 2,951.50p +0.32%Rexam (REX) 437.40p +0.23%Severn Trent (SVT) 1,734.00p +0.12%Associated British Foods (ABF) 1,293.00p +0.08%InterContinental Hotels Group (IHG) 1,641.00p +0.06%FTSE 100 - FallersEurasian Natural Resources Corp. (ENRC) 326.40p -5.25%Evraz (EVR) 259.40p -4.60%Anglo American (AAL) 1,864.50p -3.79%Fresnillo (FRES) 1,766.00p -3.66%Vedanta Resources (VED) 1,049.00p -3.41%GKN (GKN) 219.10p -3.05%Sage Group (SGE) 315.30p -2.92%Kazakhmys (KAZ) 708.00p -2.88%Glencore International (GLEN) 352.00p -2.76%Antofagasta (ANTO) 1,244.00p -2.51%FTSE 250 - RisersPetra Diamonds Ltd.(DI) (PDL) 116.60p +6.29%QinetiQ Group (QQ.) 180.90p +5.30%Computacenter (CCC) 379.90p +3.46%Pace (PIC) 168.70p +2.09%SIG (SHI) 104.70p +2.05%Cairn Energy (CNE) 289.30p +1.94%Shanks Group (SKS) 90.20p +1.81%Stobart Group Ltd. (STOB) 116.50p +1.75%PayPoint (PAY) 738.00p +1.72%Brown (N.) Group (BWNG) 271.90p +1.68%FTSE 250 - FallersBumi (BUMI) 137.40p -29.86%Talvivaara Mining Company (TALV) 154.00p -6.44%Ferrexpo (FXPO) 205.10p -4.83%Petropavlovsk (POG) 420.30p -4.39%Centamin (DI) (CEY) 91.95p -3.92%Imagination Technologies Group (IMG) 513.50p -3.39%Lonmin (LMI) 577.50p -2.78%Grainger (GRI) 108.40p -2.69%Dixons Retail (DXNS) 19.14p -2.65%Smith (DS) (SMDS) 187.40p -2.65%FTSE TechMARK - RisersOxford Biomedica (OXB) 2.50p +3.73%BATM Advanced Communications Ltd. (BVC) 17.00p +3.03%Wolfson Microelectronics (WLF) 211.00p +2.30%Filtronic (FTC) 44.00p +1.73%XP Power Ltd. (DI) (XPP) 1,020.00p +0.79%Consort Medical (CSRT) 731.50p +0.21%FTSE TechMARK - FallersAntisoma (ASM) 1.53p -5.26%Ricardo (RCDO) 380.00p -2.81%Gresham Computing (GHT) 70.00p -2.78%Vectura Group (VEC) 82.00p -2.38%Vislink (VLK) 31.00p -1.59%Xaar (XAR) 245.00p -1.21%E2V Technologies (E2V) 135.00p -0.55%Microgen (MCGN) 133.00p -0.19%Optos (OPTS) 178.75p -0.14%NCC Group (NCC) 920.00p -0.05%NR
More News
13 Oct 2009 14:26

London afternoon: Retailers sag after sales data

Leading shares remain mixed, with the Footsie easing back into the red over the lunchtime session. Retailers are out of sorts despite some moderately optimistic news from the British Retail Consortium (BRC) concerning retail sales. The BRC said annual retail sales growth in September accelerated to

Read more
13 Oct 2009 12:14

London midday: Looking for direction

The Footsie has crawled into positive territory, helped by miners recovering from their weak opening. Kazakhmys is the pick of the sector after revealing it is in talks with the China Development Bank and JSC Sovereign Wealth Fund Samruk-Kazyna regarding a potential corporate loan facility of aroun

Read more
13 Oct 2009 08:08

JJB Sports finally launches £100m rights issue

JJB Sports issued the prospectus for its delayed £100m rights issue this morning, adding it represents a new beginning for the embattled sportswear group. The prospectus was approved by the UK Listing Authority last night after the company confirmed the details, which will involve issuing 400m shar

Read more
13 Oct 2009 06:17

Tuesday newspaper round-up: ITV, Lloyds Banking, Dyson

The multi-billion-pound self-certification mortgage industry, in which customers are not required to provide proof of income, is set to be banned by the financial regulator. The Financial Services Authority (FSA) is effectively planning to kill off self-cert home loans by introducing a rule compell

Read more
12 Oct 2009 16:48

London close: Best finish in 12½ months

UK share prices finished at their best levels in over a year Monday and, despite a few sellers appearing late on, the FTSE 100 ended the session above 5,200. Insurers Old Mutual, Standard Life and Legal & General were in demand all day. Rising stock markets are always good news for their investment

Read more
12 Oct 2009 14:23

London afternoon: Banks' balance sheet issues resurface

The Footsie crashed through the 5200 barrier this morning to rise to a one-year high and although prices came off the top over the lunch-time session, the vast majority of blue-chips are still in the blue. The upward trend in global equity markets is good news for the insurers and their investment

Read more
12 Oct 2009 12:07

London midday: Footsie at year-high

London's blue chips hit their best level since September last year as buyers charged in again following the strong performance on Wall Street last week. There are strong risers in most sectors with the notable exception of banks where Barclays and Lloyds Banking are both lower. Banking giant Barcl

Read more
12 Oct 2009 08:50

London open: London makes healthy start

London has made a bright start helped by the strong finish to last week on Wall Street. Index heavyweight Vodafone is ahead along with Unilever, Shire and Segro as buyers dominate. Only Invensys and Randgold Resources are significantly in the red. Banking giant Barclays is lower despite reports it

Read more
12 Oct 2009 07:40

London pre-open: Firm start on the cards

London is expected to get the week off to a bright start, with traders predicting the FTSE 100 will open around 22 points higher, but early attention is likely to be dominated by board room turmoil in two second-liners. The long running soap opera revolving around the chairman role at TV broadcaste

Read more
12 Oct 2009 07:10

JJB cash call to go ahead

Troubled sportswear group JJB Sports has confirmed its plans for a rights issue to raise £100m are now back on track after it suspended the cash call on Friday after rumours surrounding executive chairman Sir David Jones. JJB said it became aware of rumours on Friday morning, which were in relatio

Read more
12 Oct 2009 06:24

Monday newspaper round-up: Barclays, JJB Sports, National Express

Barclays is planning to spin off a £4bn portfolio of complex credit assets as the bank presses ahead with a process to clean up its balance sheet and ease shareholder concerns over its investments. The bank is looking at a deal to shift up to £4bn of the assets off its balance sheet in an echo of a

Read more
11 Oct 2009 11:16

Sunday newspaper round-up: JJB Sports, Lloyds Banking, Punch Taverns

JJB, the sportswear giant, claimed last night that it was the target of an elaborate hoax designed to sabotage a £100m fundraising plan and wreck the reputation of its chairman. The allegations were so serious that the retailer was forced on Friday to postpone the rights issue because it believed "

Read more
9 Oct 2009 16:31

London close: Flat finish for sluggish Footsie

Footsie ended the week without any real sense of direction, holding onto gains posted earlier in the week. Vedanta Resources was the weakest stock in a soft mining sector after Goldman Sachs said Vedanta's aluminium, zinc and iron ore facilities were lower than Goldman had expected. Lower industri

Read more
9 Oct 2009 14:37

FTSE 250 movers: SThree climbs after peer updates

Recruiter SThree is one today's best performing mid-cap stocks at the end of a busy week for the sector. Robert Walters today said it saw net fee income slump by 29% in the third quarter but reports some improvements, especially in banking and in Asia, though visibility overall remains limited. Si

Read more
9 Oct 2009 14:29

London afternoon: Vedanta leads miners lower

Mining stocks remain a proverbial albatross round the market's neck, dragging the Footsie below last night's closing level despite some interest in consumer stocks. Vedanta Resources is the weakest stock in a soft mining sector after Goldman Sachs said Vedanta's aluminium, zinc and iron ore facilit

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.