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Drapers Share monitor - Warm weather heats up high street

High street retailers benefited from good weather this Easter and stocks rose accordingly. Debenhams had up to 70% off at its Blue Cross Sale, and shares rose 4p to 179p ahead of its half-year results next week.

The hysteria surrounding Primark's debut in London's Oxford Street gave the retailer's share price a boost, rising 32.5p to 901p.

Supermarkets had mixed fortunes. Tesco, whose UK chief executive of clothing Terry Green confirmed he was not moving to M&S, saw shares rise 6.5p to 455.5p, ahead of year-end figures out next week and speculation that it could bid for Australian retailer Coles.

The consortium of bidders targeting Sainsbury's disintegrated, with final bidder CVC pulling out as Drapers went to press.

The Sainsbury family, which owns an 18% stake, said it would not consider an offer lower than 600p per share. Shares were down 14.5p to 538.5p.

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