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STOCKS NEWS UK-JJB Sports jumps as Bill Gates buys a stake
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09:31GMT 16July2009-JJB Sports (LSE: JJB.L - news) jumps as Bill Gates buys a stake
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Shares in JJB Sports jump 15 percent to 28.75 pence after the British sports retailer says Microsoft (NASDAQ: MSFT - news) founder Bill Gates has bought a 3.14 percent stake in the company.
'It obviously doesn't look bad to have him on the shareholder register,' says one trader.
'There's rumours going around that he wants to increase his stake and he must see something in the company. I think it'll be over 30 pence by the end of the day.'
The purchase is not the first by Gates in a small British retailer. In May 2008, he took a small stake in Carpetright (LSE: CPR.L - news) .
To see JJB's statement please click on
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