Shares: Taking Stock

Harvey Nichols, the trendy London department store, is expected to enjoy a bumper session when trading starts today. The shares were placed at 270p and a 300p-plus level is expected. The market demonstrated its appetite for attractive new issues when it embraced Millennium & Copthorne Hotels and Phytopharm, a medicine developer. The hotel group, placed at 278p. closed at 332p and Phytopharm, offered at 175p, touched 185p, ending at 178p.

Brent Walker, the battered remains of George Walker's empire, is proving there is life after death. The shares rose 0.5p to 4p, highest for two years. Assets, largely the William Hill betting shops and the Pubmaster pubs chain, are insufficient to cover debts. Punters are expecting a deal soon.