Retailers were in focus last night, with Debenhams gaining ground as analysts looked ahead to the key Christmas trading period.

JD Sports Fashion today sold its entire 9.9 per cent stake in rival JJB Sports for £16.3m.

Keith Hellawell, the former government drugs tsar who resigned over the declassification of cannabis, has been appointed non-executive chairman of Sports Direct, ending the sportswear group's two-and-a-half-year search for a new boss.

The spat between Sports Direct and Newcastle United owner Mike Ashley and Kaupthing Singer and Friedlander's administrators reached a new level yesterday as the two parties traded yet another round of claims over disputed shares.

Sports retailer JJB Sports yesterday postponed a £100m rights issue after a City regulator intervened to delay the deal that was due to be announced yesterday morning.

JJB Sports will today unveil a £100m cash call aimed at securing the ailing sportswear retailer's future.

JJB Sports has admitted that its stores will not be fully stocked in the run-up to Christmas as losses at the struggling chain soared.

Today: Oil & gas assurance and quality control company Velosi is expected to announce an impressive set of first-half results this morning, showing that trading was better than expected. Last year's pre-tax profits increase of 30 per cent will most probably be replicated.

Two major sportswear chains were at the centre of a fraud investigation today.

Retail sector investors will be keen to hear how the top end of the market is faring when Burberry posts a first quarter update this Wednesday.

JD Sports Fashion has revealed another strong performance after sales growth accelerated in the eight weeks to the end of last month.