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Spread bets and CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 69% of retail investor accounts lose money when trading spread bets and CFDs with this provider. You should consider whether you understand how spread bets and CFDs work, and whether you can afford to take the high risk of losing your money.

JD Sports gives hope for H2

In its most recent statement, the UK retailer JD Sports Fashion warns that current trading is difficult, but that improvements are on the way.

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Fiscal year 24 profit before tax and adjusted items is expected to be in line with the £915 - 935 million guided range, but the numbers are loaded into the second half. It says that in this context, the first quarter is likely to be the softest period. As IGTV’s Jeremy Naylor explains, this has led to a positive market response, but where it goes from here depends on more improvement.

(AI Video Summary)

JD Sports expecting good 2024 profits

JD Sports Fashion had a great start to the day in London's stock market. The stock price went up by as much as 12% during the trading session, which is really impressive. But now the stock has reached a resistance line at 124 pence per share, meaning it's having a hard time going above that price.

However, the company is still expecting to make a good profit for the whole year, before tax and other adjustments. They think the third quarter might be a bit tough, but they believe that things will pick up in the second half of the year. Right now, the stock price is moving between 107 and 134 pence per share, so it's uncertain how it will continue to perform.

Could the stock go any higher?

There's a chance that the stock might go up even more if good things happen in the future. But it's important to remember that the market is difficult right now, so nothing is guaranteed. JD Sports Fashion knows that the economy is tough, but they are still hopeful about the future as long as they can handle the challenges that come their way.

This information has been prepared by IG, a trading name of IG Markets Limited. In addition to the disclaimer below, the material on this page does not contain a record of our trading prices, or an offer of, or solicitation for, a transaction in any financial instrument. IG accepts no responsibility for any use that may be made of these comments and for any consequences that result. No representation or warranty is given as to the accuracy or completeness of this information. Consequently any person acting on it does so entirely at their own risk. Any research provided does not have regard to the specific investment objectives, financial situation and needs of any specific person who may receive it. It has not been prepared in accordance with legal requirements designed to promote the independence of investment research and as such is considered to be a marketing communication. Although we are not specifically constrained from dealing ahead of our recommendations we do not seek to take advantage of them before they are provided to our clients. See full non-independent research disclaimer and quarterly summary.

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