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Tuesday preview: Debenhams shares rise ahead of trading statement

All eyes are on Debenhams as the major department store unveils its interim management statement on Tuesday following a considerable hike in shares during 2012.

All eyes are on Debenhams as the major department store unveils its interim management statement on Tuesday following a considerable hike in shares during 2012.

Shares soared 94.7% last year owing in part to share buybacks and a strong top line performance boosted by online sales.

Panmure Gordon has retained its 'hold' recommendation and 118p target price ahead of the statement.

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"Ahead of the Christmas trading statement, due Tuesday January 8th, we remain holders," the broker said.

"However, we warn that in view of the stock's performance, the slightest slip up here will be heavily punished."

Shares have already risen over 3% during the first week of trading in 2013.

Panmure said Next's better-than-expected trading statement last Thursday may have contributed to the results.

The broker added Debenhams was more promotional than anticipated in the run up to Christmas despite stock levels being "tight as a drum" per management.

However, shares fell 0.59% at 117.20p at 15:22 Monday.

Debenhams is just one of a wealth of major companies announcing trading results Tuesday with Dunelm, Persimmon, Robert Walters and Signet unveiling sales performance.

TRADING ANNOUNCEMENTS

Dunelm, Persimmon, Robert Walters, Signet

IMS

Dominos Pizza Group, Debenhams

INTERIM DIVIDEND PAYMENT DATE

Management Consulting Group, Norcros, TR Property Inv Trust, TR Property Inv Trust Sigma Shares

QUARTERLY EX-DIVIDEND DATE

Verizon Communications

INTERNATIONAL ECONOMIC ANNOUNCEMENTS

Balance of Trade (GER) (07:00)

Business Climate Indicator (EU) (10:00)

Consumer Credit (US) (20:00)

Current Account (GER) (07:00)

Economic Sentiment Indicator (EU) (10:00)

Retail Price Index (GER) (07:00)

Retail Sales (EU 17) (10:00)

Unemployment (EU 17) (10:00)

GMS

Kingswalk Investments Ltd

IMSS

Domino's Pizza Group

EGMS

Kingswalk Investments Ltd

AGMS

Debenhams

TRADING ANNOUNCEMENTS

Balfour Beatty, Persimmon, Robert Walters

UK ECONOMIC ANNOUNCEMENTS

BRC Retail Sales Monitor (00:01)

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