Tag: JD Sports

  • FTSE 100 Opens Higher as US-Iran Talks Resume; JD Sports Profit Falls, Airtel Money Plans London IPO

    FTSE 100 Opens Higher as US-Iran Talks Resume; JD Sports Profit Falls, Airtel Money Plans London IPO

    The FTSE 100 opened 40.75 points higher at 10,749.08 on Wednesday, as investors welcomed signs of renewed diplomacy between the United States and Iran. The positive start came ahead of a fresh batch of flash PMI data from Europe, the UK, and the US.

    Market Movers

    Brent crude futures fell 0.43% to USD 98.82 per barrel, while U.S. West Texas Intermediate (WTI) advanced 0.99% to USD 89.62. Sterling rose to USD 1.3382 early Wednesday from USD 1.3372 late Tuesday, and edged up against the euro to EUR 1.1661 from EUR 1.1658.

    Gainers

    • Rentokil rose 2.40% to 324.20p
    • Sage Group advanced 1.41% to 1,003.50p
    • Standard Chartered gained 1.24% to 2,294p
    • InterContinental Hotels Group rose 1.14% to USD 155.85
    • London Stock Exchange Group added 1.10% to 8,244p
    • 3i Group increased 1.09% to 2,702p

    Losers

    • Smiths Group fell 1.11% to 2,752p
    • Spirax Group dropped 0.76% to 7,220p
    • Severn Trent declined 0.71% to 3,086p
    • Admiral Group slipped 0.54% to 3,686p
    • AstraZeneca fell 0.36% to 12,626p
    • Next edged 0.34% lower to 14,640p

    US-Iran Diplomacy

    US President Donald Trump said envoys held a ‘very good’ three-hour meeting with an Iranian delegation on the sidelines of the United Nations General Assembly in New York. Special Envoy Steve Witkoff confirmed talks took place through mediators who “shuttled between the two sides throughout the day,” describing the round as “successfully completed” and indicating a further meeting is expected within days. Iran’s conditions, communicated through Qatari mediators, include a halt to hostilities on all fronts, removal of the US naval blockade, and the return of frozen funds, according to Esmaeil Baghaei, spokesperson of the Ministry of Foreign Affairs of Iran.

    JD Sports H1 Profit Declines

    British sports and fashion retailer JD Sports reported a 19.7% decline in first-half profit, driven by weakness in its North American market. The group maintained its full-year earnings outlook. Shares are down 10% over the past year. Profit before tax and adjusting items was GBP 282 million, slightly above the GBP 279 million consensus estimate. Revenue fell to GBP 5.90 billion from GBP 5.94 billion a year earlier. Like-for-like sales fell 2.8%, while organic sales dipped 0.7%. JD Sports left its full-year profit before tax and adjusting items guidance at GBP 700 million to GBP 800 million and its free cash flow forecast unchanged at GBP 460 million to GBP 520 million.

    Airtel Money Confirms London IPO

    Airtel Money confirmed plans for a London IPO. The African mobile payments business is reportedly seeking a valuation as high as $9 billion (GBP 6.8 billion). The fintech, with more than 50 million active customers, aims to raise as much as $800 million. CEO Ian Ferrao said, “A London listing will underpin our next wave of growth. The opportunity ahead of us is substantial and, importantly, there are many demographic and digital tailwinds within the markets that we serve. This listing will give us the platform to continue transforming financial services across Africa and to keep building value for our customers, our partners, African governments and our shareholders.”

    Global Market View

    In the US, the tech-heavy Nasdaq climbed 0.45% to a record close of 27,244.28, supported by a nearly 7% gain in shares of SanDisk. The S&P 500 was marginally lower at 7,764.64, while the Dow Jones Industrial Average shed 0.36% to finish at 51,863.69. In Asia on Wednesday, Tokyo’s Nikkei 225 was closed, while China’s Shanghai Composite dipped 0.4%. Hong Kong’s Hang Seng declined 0.96%, and South Korea’s Kospi edged up 0.9%. In India, both the Nifty 50 and the Sensex rose by 0.53% and 0.52%, respectively.

    Disclaimer: This article is provided for informational purposes only and does not constitute investment advice. Readers are encouraged to conduct their own research before making any financial decisions.

  • FTSE 100 Rises 16.66 Points to 10,884.55 as Oil Prices Firm and US Jobs Report Looms

    FTSE 100 Rises 16.66 Points to 10,884.55 as Oil Prices Firm and US Jobs Report Looms

    The FTSE 100 traded 16.66 points higher at 10,884.55 on Friday, as investors assessed fresh US trade measures, firmer oil prices, and prepared for the release of the US jobs report later in the day. Brent crude futures rose 0.91% to $83.24 per barrel, while US West Texas Intermediate (WTI) fell 0.57% to $77.73 per barrel.

    Sterling was quoted at $1.3452 early Friday, slightly lower than $1.3454 at the London equities close on Thursday. Against the euro, sterling fell marginally to €1.1674 from €1.1675 a day prior.

    Gainers & Losers

    On the upside, Fresnillo surged 2.74% to 2,813p. Convatec Group advanced 2.73% to 233p, while BAE Systems climbed 1.68% to 2,237p. London Stock Exchange Group gained 1.53% to 8,884p, Diageo rose 1.47% to 1,758p, and AstraZeneca added 1.38% to 12,014p.

    On the downside, Severn Trent fell 1.03% to 3,084p. Whitbread declined 0.87% to 2,506p, while Antofagasta slipped 0.76% to 3,944p. 3i Group eased 0.73% to 2,850p, Shell dropped 0.59% to 3,295.5p, and Unilever edged 0.40% lower to 4,690p.

    Oxford Biomedica Cuts Profit Forecast

    Oxford Biomedica has slashed its revenue target for the year by nearly £40 million after slowing customer appetite. The firm has lowered its revenue forecast for the full year to £180 million to £200 million, from between £220 million and £240 million, given a drop in demand from clients.

    The medical company said the ‘short-term impact’ is driven by customers opting to delay signing contracts for the year, resulting from changes in the clients’ clinical data or their strategy. Dr. Frank Mathias, chief executive officer of Oxford Biomedica, said despite the profit warning, “we remain confident about OXB’s future as we continue to expand our market position in the growing cell and gene therapy sector and support our clients in delivering life-changing therapies to patients.”

    JD Sports Appoints Former IKEA Boss as Chair

    JD Sports has named the former boss of Ikea as its new chair. The retailer said on Friday Peter Agnefjäll would take the post, succeeding Darren Shapland, who has served in the role on an interim basis. Agnefjäll’s recruitment follows Andy Higginson quitting as chair in April ahead of his tenure finishing in July. He said he was “proud of his time” at the company, in which JD oversaw a “tough period” in the sportswear market and expanded the brand in the US.

    Meta Fined $567 Million Over Child Safety

    Meta has been ordered by a New Mexico judge to pay $567 million (£421 million) for failing to protect children against online harms on its platforms. In the ruling handed down on Friday, US Judge Bryan Biedscheid said the tech giant is a “public nuisance” and compared the WhatsApp, Facebook, and Instagram owner to air pollution. The new fine is in addition to a $375 million penalty the tech company was already ordered to pay in damages in March after a jury ruled Meta had intentionally impacted children’s mental health, hiking the total penalty to nearly $1 billion.

    Global Market View

    In the US, the Dow Jones Industrial Average pulled back from its record high as higher Treasury yields dampened sentiment. The Dow fell 0.9%, the S&P 500 slipped 0.2%, and the Nasdaq edged 0.1% lower.

    In Asia on Friday, Tokyo’s Nikkei 225 fell 0.12% to 65,606.71, while China’s Shanghai Composite gained 1.02%. Hong Kong’s Hang Seng advanced 0.45%, and South Korea’s Kospi edged lower by 0.6%. In India, both the Nifty 50 and the Sensex fell by 0.31% and 0.53%, respectively.

  • FTSE 100 Rises 16.66 Points to 10,884.55 as Oil Prices Support and Investors Focus on US Jobs Data

    FTSE 100 Rises 16.66 Points to 10,884.55 as Oil Prices Support and Investors Focus on US Jobs Data

    The FTSE 100 traded 16.66 points higher at 10,884.55 on Friday, as investors assessed fresh US trade measures, firmer oil prices, and awaited the US jobs report later in the day. Brent crude futures rose 0.91% to $83.24 per barrel, while US West Texas Intermediate (WTI) fell 0.57% to $77.73 per barrel.

    Sterling was quoted at $1.3452 early Friday, slightly lower than $1.3454 at the London equities close on Thursday. Against the euro, sterling fell marginally to €1.1674 from €1.1675 a day prior.

    Gainers & Losers

    On the upside, Fresnillo surged 2.74% to 2,813p. Convatec Group advanced 2.73% to 233p, while BAE Systems climbed 1.68% to 2,237p. London Stock Exchange Group gained 1.53% to 8,884p, Diageo rose 1.47% to 1,758p, and AstraZeneca added 1.38% to 12,014p.

    On the downside, Severn Trent fell 1.03% to 3,084p. Whitbread declined 0.87% to 2,506p, while Antofagasta slipped 0.76% to 3,944p. 3i Group eased 0.73% to 2,850p, Shell dropped 0.59% to 3,295.5p, and Unilever edged 0.40% lower to 4,690p.

    Oxford Biomedica Cuts Profit Forecast

    Oxford Biomedica slashed its revenue target for the year by nearly £40 million after slower customer demand. The firm lowered its full-year revenue forecast to £180 million to £200 million, from between £220 million and £240 million, due to clients delaying contract signings. CEO Dr. Frank Mathias said despite the profit warning, the company remains confident about its future in the cell and gene therapy sector.

    JD Sports Appoints Former IKEA Boss as Chair

    JD Sports named Peter Agnefjäll, the former CEO of IKEA, as its new chair, succeeding interim chair Darren Shapland. Agnefjäll’s appointment follows Andy Higginson’s resignation in April. Higginson noted he was proud of his tenure during a tough period in the sportswear market and the brand’s US expansion.

    Meta Fined $567 Million in New Mexico

    A New Mexico judge ordered Meta to pay $567 million (£421 million) for failing to protect children against online harms on its platforms. Judge Bryan Biedscheid described the tech giant as a “public nuisance” and compared it to air pollution. This fine adds to a $375 million penalty imposed in March, bringing total penalties to nearly $1 billion.

    Global Market Overview

    In the US, the Dow Jones Industrial Average fell 0.9% from its record high, the S&P 500 slipped 0.2%, and the Nasdaq edged 0.1% lower amid higher Treasury yields. In Asia, Tokyo’s Nikkei 225 fell 0.12%, while China’s Shanghai Composite gained 1.02%. Hong Kong’s Hang Seng advanced 0.45%, and South Korea’s Kospi edged lower by 0.6%. In India, both the Nifty 50 and the Sensex fell by 0.31% and 0.53%, respectively.

    Disclaimer: This article is provided for informational purposes only and does not constitute investment advice. Always conduct your own research before making any investment decisions.