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STOCKS NEWS UK-JJB rises on support for equity issue
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10:12GMT 12Oct2009-JJB (LSE: JJB.L - news) rises on support for equity issue
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Shares in British sportswear retailer JJB Sports rise 5.3 percent
after the firm said over the weekend that it is committed to a 100 million pounds equity issue, with indications of interest in excess of three times the size of the proposed capital raising.
Analysts say the stock had also been buoyed by press reports placing former Focus DIY, Woolworths (Frankfurt: 886853 - news) and Asda (NYSE: WMT - news) executive Steve Johnson's name in the frame as a possible CEO for JJB.
'It is only a rumour at this stage, but, based on our contact with Johnson in his days at Asda, we would regard such an appointment as positive,' says Altium Securities analyst David Stoddart.
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