FTSE 100 movers: JD Sports gains on Q2 results; L&G goes ex-div
![JD Sports | Sharecast photo / Josh White dl jd sports fashion sign shop](https://img1.s3wfg.com/web/img/images_uploaded/c/5/dl-jd-sports-fashion-sign-shop_620x350.jpg)
London’s FTSE 100 was flat at 8,285.99 in afternoon trade on Thursday.
Sports apparel and footwear retailer JD Sports Fashion jumped to the top of the index after saying it saw a return to like-for-like growth in its second quarter, with its store rollout programme in North America and Europe providing a boost while the UK market remains subdued.
LFL sales were 2.4% higher than last year in the three months to 3 August, following a 0.7% year-on-year decline in the first quarter. The company maintained its profit guidance for the full year but said it “continues to be cautious on our outlook”.
Dan Coatsworth, investment analyst at AJ Bell, said: "There was a sense of nervousness in the air in the run-up to JD Sports’ update. Cracks have appeared in the athleisure market this year and several big names in the industry have found life harder, including Nike and Lululemon.
"Consumers realised they either don’t need or they cannot afford the latest trainers and tracksuits. Fashions also evolved. However, there was a glimmer of hope when Adidas upgraded its earnings guidance in July, implying that the sector might still be match fit.
"JD Sports’ latest trading update will be a big relief to investors. It is still growing sales and there was only a small dip in margins, which might surprise given how many retailers have resorted to discounting to shift goods.
"The recent acquisition of Hibbett means JD is increasingly reliant on the US for sales. JD will be hoping the country avoids recession, otherwise the acquisition could look ill-timed. It would be embarrassing if sales fall short of expectations after spending $1 billion on the deal."
Sports Direct owner Frasers Group also gained.
On the downside, Legal & General, Mondi and Imperial Brands all fell as they traded without entitlement to the dividend.
FTSE 100 - Risers
JD Sports Fashion (JD.) 139.00p 8.47%
Frasers Group (FRAS) 866.00p 2.61%
Flutter Entertainment (DI) (FLTR) 16,240.00p 2.07%
easyJet (EZJ) 447.00p 1.82%
Tesco (TSCO) 345.40p 1.65%
Burberry Group (BRBY) 706.60p 1.61%
International Consolidated Airlines Group SA (CDI) (IAG) 176.80p 1.61%
Sainsbury (J) (SBRY) 284.20p 1.57%
Smurfit Westrock (DI) (SWR) 3,362.00p 1.42%
CRH (CDI) (CRH) 6,698.00p 1.39%
FTSE 100 - Fallers
Legal & General Group (LGEN) 225.50p -2.38%
Mondi (MNDI) 1,447.00p -1.77%
Glencore (GLEN) 406.70p -1.60%
BP (BP.) 425.70p -1.09%
Rio Tinto (RIO) 4,784.00p -1.07%
Imperial Brands (IMB) 2,127.00p -1.02%
Shell (SHEL) 2,691.00p -1.01%
Berkeley Group Holdings (The) (BKG) 5,170.00p -0.96%
Land Securities Group (LAND) 629.50p -0.87%
Antofagasta (ANTO) 1,833.00p -0.87%