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View the article online at http://citywire.co.uk/wealth-manager/article/a727541

Banks lift FTSE after debt rules eased

by Chris Marshall on Jan 13, 2014 at 09:33

Though further bid speculation could support Debenhams shares, said Liberum analyst Sanjay Vidyarthi, he did not see the rationale for the deal for the department store. ‘Our view on Debenhams (Sell, 65p TP) is that, given little room for manoeuvre on costs or gross margin, management does not have many options other than to continue with its sales-driven recovery strategy,’ he concluded.

Homeserve (HSV.L) investors breathed easier after the home repair and insurance group was hit with a fine of £34.5 million from the UK City regulator. Though the levy for mis-selling was £30 million bigger than expected, the company said ‘business continues to trade in line with expectations’ and investors welcomed the removal of regulatory uncertainty.

Homeserve shares climbed 3.5% to 292p.

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