FTSE 100 down as Anglo American in spotlight October 26, 2012 The blue chip index was down in early trading, as investors were cautious on weak data from the Eurozone and biding time ahead of US GDP released this afternoon. Mining shares bore the brunt of losses, although Anglo American bucked the trend, adding 2.1 per cent, as chief executive Cynthia Carroll announced she was to [...]
Best of the Brokers October 11, 2012 JD SPORTS Seymour Pierce upgraded its rating for the sports retailer from “hold” to “buy,” a and rose its target price from 800p to 1000p. The broker made the change in light of its acquisition of Blacks and JJB’s passing into administration, as well as Sports Direct’s plans to develop in e-commerce. The progress is [...]
FTSE 100 up on fresh China stimulus hopes September 27, 2012 The blue chip index jumped in early trading, as headline mining shares such as Anglo American, Rio Tinto and Glencore rose, bolstered by expectations of market-boosting measures from China. On the FTSE All-Share, insurer CPP Group topped the leaderboard, adding 14.29 per cent. It has been weighing up a turnaround plan after the City watchdog [...]
JJB’s sale faces scrutiny of the retail watchdog September 23, 2012 SPORTS Direct’s proposed takeover of JJB Sports’ 180 stores is likely to come under investigation by the competition watchdog once the acquisition has already taken place. The sportswear giant founded by Newcastle United owner Mike Ashley remains one of the frontrunners to buy the struggling retailer, although it is said to be interested in less [...]
FTSE 100 jumps on mining gains September 21, 2012 The blue chip index consolidated gains in Asia and the US this morning, as once again miners headed up the morning leaderboard on improved copper prices. Essar Energy and Ruspetro rose 4.15 per cent and 3.85 per cent respectively. Heavyweight miners Vedanta and Bumi added 3.42 per cent and 3.4 per cent respectively. Elsewhere, Abu [...]
Ashley’s move for JJB thrown by new interest September 18, 2012 SPORTS DIRECT’S bid for JJB has taken a setback as new offers for the retailer have surfaced, with Mike Ashley’s firm no longer considered the frontrunner for the bid. Irish consortium Stafford Group has launched a late bid for JJB, while JD Sports and JJB founder Dave Whelan have pulled out of talks, it emerged [...]
JD Sports profit hit by losses at Blacks Leisure September 18, 2012 JD SPORTS reported an expected 82 per cent drop in first half pre-tax profit yesterday as operating losses from its Blacks Leisure acquisition weighed on the group, but said it remained well positioned to hit full-year targets. The clothing and footwear firm, which sells merchandise from top brands such as Nike and Adidas, said yesterday [...]
JJB carve up set to give the lion’s share to Sports Direct September 16, 2012 THE SALE of doomed sports retailer JJB is set to be completed early this week, with the biggest slice of the firm’s 180 UK stores to go to Mike Ashley’s Sports Direct. Sources close to the deal said last night that the sale to Sports Direct, being handled by KPMG, was nearing completion although talks [...]
FTSE 100 down as BAE and EADS in the spotlight September 13, 2012 The blue chip index was trading slightly down this morning, as the mega-merger between BAE Systems and EADS grabbed the headlines. Investors were also cautious ahead of a key policy decision from the US Federal Reserve, which is expected later. Publisher Centaur was a big riser in early deals, up 11.56 per cent, on news [...]
Best of the Brokers September 5, 2012 JD SPORTS Ahead of interim reports on 18 September, Singer Capital has moved JD Sports back onto its “buy” list from “fair value” with a target price of 790p. The broker expects a fall in profits before tax from £16m to £2.4m after the company absorbed Blacks at the start of the year, but has confidence [...]