Takeover target Somerfield was today urged by shareholders to walk away from a bid rather than accept a cut-price offer.

Clothing chain French Connection delivered its second profits warning in eight months today after new ranges failed to draw in shoppers.

The final verdict on Christmas trading in Britain was delivered today as high street stalwarts Boots and WH Smith rounded off the season for sales updates.

Shares in HMV rose more than 3% as investors welcomed news that the company would offer digital downloads online as well as mp3 players in its stores.