SHARES in French Connection soared 10 per cent ahead of a hastily brought out trading statement yesterday indicating that full-year losses would be lower than feared. The share price spike prompted one veteran retail analyst Nick Bubb to comment, via Twitter, on the sequence of events, which suggests that news of the better than expected trading had leaked beyond a select few insiders. In a statement released an hour before the market closed, the struggling fashion retailer said that it expects to post a pre-tax loss of around £4.7m for the year to 31 January -better than the £6m forecast by analysts and ahead of the £7.3m loss reported the previous year. Shares closed up 19 per cent after rallying as much as 25 per cent. The company declined to comment.
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