Sports Direct, CVS and Indivior

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“FTSE indices were in negative territory after overnight falls in Asia with traders looking to eurozone purchasing managers' index data due out later this morning,” says AJ Bell Investment Director Russ Mould.

Sports Direct’s independent shareholders have been clamouring for change at the top for some time. But it is a moot point whether founder and majority shareholder Mike Ashley’s decision to take over as chief executive following the resignation of Dave Forsey meets those aspirations. Ashley is the public face of Sports Direct and disgruntled shareholders believe he has, in effect, been running the company as executive deputy chairman anyway.

“Veterinary group CVS had a record year with organic growth being enhanced by further acquisitions in its veterinary practice and crematoria divisions. Investment in a number of longer term initiatives, including the development of a small number of greenfield sites and the introduction of its own brand, will have a slightly negative impact on profits in the short term before generating positive returns. The acquisition pipeline remains buoyant and the outlook remains promising.

“Pharmaceutical group Indivior’s shares fell in early trading after it confirmed that 35 US states and the District of Columbia filed a civil complaint alleging violations of state and federal antitrust and consumer protection laws. This follows an investigation by the US Federal Trade Commission. Indivior intends to continue to vigorously defend its position. The company’s shares were down by more than 7% in early trading.”

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