Despite a 60% fall in profits for shell suit seller Sports Direct, its shares rocketed 7% on the appointment of a new CFO. According to Independent Market Strategist Matt Brown, the market breathed a sigh of relief that flamboyant CEO Mike Ashley may be reined in somewhat reined in by his new appointment. Defiant Ashley described a new initiative at the retailer that would make it the Selfridges of Sport. This concept might be helped along by a surprise rise in UK retail sales reported for June. In the meantime the markets awaited the latest news from ECB President Mario Draghi from midday.


Please enter your comment!
Please enter your name here