STOCKS NEWS EUROPE-Blacks Leisure up on rescue deal hopes

Blacks Leisure (BSLA.L) shares climb 13 percent to 30.25 pence on hopes that landlords will agree a rescue plan that would see 101 stores close.

"We believe, given the alternative is most likely administration, the company stands a good chance of securing more than 75 percent approval from creditors required to proceed," says Seymour Pierce analyst Kate Heseltine.

"Though this would be good news, management still have much work to revamp and drive sales from the remaining 291 outdoor stores in an increasingly competitive environment," she adds.

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