0759 GMT - The U.K. Debt Management Office's planned sale of GBP3 billion in the 0.375% October 2026 gilt should go well, as the bond looks cheap on several metrics, says RBC Capital Markets. "Given the recent cheapening of 5-year on outright, cross-market, on the curve versus longer maturities it should go relatively well," analysts at the bank say. Further supporting the auction is the possibility of outperformance against gilts of different maturities. "Whilst the bond doesn't look particularly attractive on micro-relative value, we see room for outperformance even from these levels given the lack of 5-year supply and its popularity in the [Bank of England's] Asset Purchase Facility," they say.
JD Sports Shares Soar After Strong 1H Results, Guidance Upgrade
0720 GMT - Shares in JD Sports jump 9.0% after the company released first-half results and provided improved full-year guidance. The sports-goods retailer's financials for January-June were very strong, with revenue and earnings ahead of expectations, RBC Capital Markets says. In addition, the integration of recent acquisitions in the U.S. and Eastern Europe is going well, and current trading is encouraging, RBC says. As a result, JD now expects a headline pretax profit of at least GBP750 million, which is 20%-25% ahead of consensus and well above previous guidance of GBP550 million, the Canadian bank says. RBC has an outperform rating on the stock.
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