MARKTRAP: Debenhams dives after Ashley dashes hopes that he prepares a takeover bid

Profit warnings: Debenhams has been hit by rising costs, a reduced income of households and the shift to online shopping

The shares in Debenhams were refueled after Mike Ashley, the billionaire owner of Sports Direct, hoped he would prepare a takeover bid.

Rising costs, household income and the shift to online shopping have affected the sales figures of most retailers, prompting department store chain Debenhams to issue a series of profit warnings this year.

Recently rumored that Ashley, who has a 29.7 percent stake through Sports Direct, was interested in adding it to his portfolio after the acquisition of House of Fraser for £ 90 million.

But Sports Direct poured cold water after the market closed on Wednesday.

Profit warnings: Debenhams has been hit by rising costs, a reduced income of households and the shift to online shopping

Profit warnings: Debenhams has been hit by rising costs, a reduced income of households and the shift to online shopping

Investors made their feelings clear yesterday by sending shares with 9.1 percent or 1.22p to 12.18p.

That would open the door a bit for Debenhams to implement his own controversial rescue plan, possibly even a voluntary venture.

"But maybe Mike Ashley wants that in the end", says Mike van Dulken, head of research at Accendo Markets.

& # 39; To buy Debenhams cheaply. With all shares and without debts, as with House of Fraser. & # 39;

The plight of Debenhams was not helped by John Lewis who reported a dive of 99 percent in the half-yearly profit.

Marks and Spencer were also dragged down, with the retailer in food and clothing dropping 2.1 percent or 6.1p to 287.2p, after climbing on Zara's back on Wednesday's solid start to autumn trade .

Stock Watch – Creo Medical

Creo Medical drove 12.5 percent higher, or 21p, to 188.5p after the company announced in medical devices yesterday the successful first use of its Speedboat endoscopically advanced energy device in patients in South Africa.

This allows doctors to perform surgical procedures without piercing the skin.

Craig Gulliford, Chief Executive of Creo, said: & The use of Speedboat in procedures and in an environment outside the UK is an important step in the commercialization of our technology. & # 39;

The FTSE 100 closed the session with 0.43 percent or 31.79 points, at 7281.57, because the misery of the retailers was largely offset by a strong show for the heavyweight miners in London.

Meanwhile, the broader FTSE 250 index increased to 0.67 percent, or 136.92 points, to 20.243.61.

Metal prizes picked up the news that President Trump and his team had traveled to China to plan more trade negotiations between the two superpowers.

Warm trade relations between the US and China are important for miners, as China is the largest consumer of raw materials.

The Beers owner Anglo American, who mined everything from iron ore to diamond mines, topped the footsie, rising 1.7 percent or 24.6p, to 1510.6p, although the Chilean copper miner Antofagasta was not far behind, an increase of 1 , 7 percent, or 13.2p, to 772p, helped by a reported upgrade in HSBC review.

The other way around were the tobacco stocks in the United Kingdom, which went up in smoke when market viewers heard the news that American regulators are looking for a solution for some of their food products.

Among those at the end of the tongue-lashing were British American Tobacco, owner of the brand Vuse e-cigarette, and Imperial Tobacco, which is the company behind Blu.

Despite an initial peak that hit the market late on Wednesday, the tobacco giants took that profit away when officials said their brands would fall under the spotlight. BAT fell by 1.9 percent or 71.5p to 3691.5p, while Imperial fell by 2.5 percent or 67.5p to 2624p.

At AIM, e-commerce group Attraqt became fashionable after winning a £ 640,000 contract with an unnamed British luxury brand.

It closes a lucrative few months for the software group, which in July announced two other deals worth £ 1.2 million.

Shares were 7.5 percent higher, or 2.5p, to 36p.

Elsewhere, investors put Malvern International into detention after another six months of loss.

Improvements in London and Singapore compensated for a decline in Malaysia and pushed sales for the six months to June to £ 2.61 million from £ 1.65 million a year ago. But it still recorded a loss of £ 370,000. Shares fell 14.3 percent or 1.1p to 6.6p.