The source of the uplift is the news that JD. has bought out BSLA (Blacks' Leisure). As I had expressed in a previous post, JD. has a knack for mopping up the stragglers. A poster on Interactive Investor called things exactly right as far back as 25-Nov-2011:
It`s in the news this morning there is a debt crisis at Blacks Leisure. If I remember correctly, Sports Direct has 21% stake in it. Seems like the sports retailers that have over stretched themselves are in trouble. More opportunities for companies like JD with surplus cash to aquire some of these companies at fire sale prices.