MARKET REPORT: Sports Direct International ready to race into European markets

SPORTS Direct International scored an 11½p rise to 620½p as Morgan Stanley told clients to buy with a 700p target, arguing the sportswear retailer is well placed to replicate its domestic success in European markets.

Sports Direct storePA

Shares in Sports Direct International rose

Housebuilder Barratt Developments subsided 7½p to 521p as dealers noted outgoing chief executive Mark Clare had cashed in shares worth about £11.8million.

Blue-chip rivals Persimmon and Taylor Wimpey fell 16p to 1647p and 1½p to 153½p.

Public transport operator FirstGroup accelerated 6¼p to 97¼p after a solid trading update, while pubs group Marston's was 6p stronger at 158¼p as analysts topped up their earnings forecasts after its acquisition of Thwaites' beer division.

Stronger-than-expected trading and contract wins with a major insurer worth about £565,000 lifted IT services group Daily Internet 0.23p to 1.65p, while fund and administration services firm Sanne Group climbed 23½p to 223½p on its market debut.

First Derivatives added 12p to 1162p after acquiring fellow software outfit Affinity for up to £7.7million if agreed revenue targets are hit.

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