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Markets find some calm after the storm

Fashion stocks rallied a little this week after last week’s widespread falls.
Marks & Spencer rose 12.5p to 583p amid rumours that a recent performance slump was set to reverse. However, Debenhams’ stock kept falling, down to 90p, just above its year low of 88p. Alexon stock also fell, down 24p to 191p, despite plans to return £17 million to shareholders.

Sports Direct owner Mike Ashley snapped up 12-store Scottish outdoor chain Nevis Sport for a reported £2.5m, and confirmed its acquisition of sports brand Everlast.

But planned analyst visits to Sports Direct’s head office, aimed at winning over investors, were cancelled. Shares fell 3.25p to 120.5p.

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