Shares in JJB Sports rose by more than 7 per cent after the retailer confirmed that it had received an approach for its Fitness Clubs business.

The Wigan-based group, which closed up 2¼p at 32½p, did not reveal the identity of the potential suitor and said there could be no certainty that a deal would be done. The fitness clubs, which have more than 200,000 members and operate alongside its super-stores at more than 50 sites across the UK, have performed well whilst the retail side of JJB struggles. The group recently sold a stake in itself to Sports Direct, its rival, to raise funds and is also considering an approach for its lifestyle division, which includes Qube and the Original Shoe Company.

Pennant International fell 3¾p, more than 44 per cent, to 4¾p after the defence-focused logistics software and services group said that full-year results would be significantly below expectations because of delays in sales and restructuring costs.

DCD Media, the television producer, rose 5¼p to 17½p after it extended the redemption date of its convertible loan notes. Gartmore, its largest shareholder, bought up some of the notes. DCD also said that Chris Hunt, its chief executive, would step down to pursue full-time creative programme-making. Character fell 8p to 32½p after the group, which makes Doctor Whoand High School Musicalbranded toys, said that market expectations for its performance in 2009 were too optimistic.

Clinton Cards slipped ¼p to 11½p after analysts at Altium cut their target price on the stock to 9p, from 15p, noting that the group may face the potentially damaging possibility of a seasonal stock clearance by Woolworths and other retailers in the run-up to Christmas.

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