Almost £4bn has been ploughed back into funds that invest in London-listed shares since the election was called, in the biggest wave of money since prior to the EU referendum. Recovering investor confidence after Boris Johnson’s decisive victory in the election has driven billions back into UK stock funds in recent weeks. About £3.8bn returned to the UK’s “unloved” stock market during the campaign and the week after the prime minister’s triumph, according to data firm EPFR Global. Money had been leaking out of UK equity funds for most of 2019 but London’s market has seen the strongest inflows since the second half of 2015 during the recent reversal.
Debenhams (DEB) has had an annus horribilis. Once the main fixture in dozens of town centres, the department store chain is on life support after falling into the hands of its lenders earlier this year. It hopes that enough shoppers came through the doors in the run-up to Christmas to deliver a last-minute boost. After the festive season is finished, the retailer will shut 22 shops, with a further 28 of the 166 earmarked for closure, to cut costs. But even so, some industry observers have warned the axe has to fall significantly deeper to make a difference. Debenhams is running hard just to stand still.
