Sharewatch: Halstead director cashes in; New JJB chief inspires confidence

JAMES Halstead’s finance director Gordon Oliver has cashed in options on 21,700 shares in the Bury-based flooring business.

Mr Oliver exercised his right to buy the ordinary shares at 354.25p each and sold them with a healthy margin at 540p.

He made a profit of around £40,000 on the trades.

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A number of institutional investors have increased their holdings in the Wigan-based sports retailer JJB Sports after it announced the appointment of a new chief executive.

JJB has brought in Keith Jones, a group retail director at DSG International, the owner of PC World and Curry’s. He replaces Chris Ronnie who was dismissed earlier this year.

Following the announcement Nortrust Nominees managed by M&G Investments bought an additional 27 million shares taking its stake to 11%.

Harris Associates bumped up its holding by nine million shares to 14.2% and Prudential bought an extra 30 million taking its stake from 8-12%.

During the week JJB’s Bury-based rival JD Sports Fashion sold its 10% stake in rival JJB Sports for £16m.