STOCKS NEWS EUROPE-JJB Sports up as Bill Gates buys stake

Shares in JJB Sports (JJB.L) jump 14 percent to 28.575 cents after the British sports retailer says Microsoft (MSFT.O) founder Bill Gates has bought a 3.14 percent stake in the company.

"It obviously doesn't look bad to have him on the shareholder register," says one trader.

"There's rumour going around that he wants to increase his stake and he must see something in the company. I think it'll be over 30 pence by the end of the day."

The purchase is not the first by Gates in a small British retailer. In May 2008, he took a small stake in Carpetright (CATVU.L).

To see JJB's statement please click on [ID:nRnsP7750V]

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