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HMV stock rises on strong Christmas sales

Launch of pre-owned games business helps share price jump 12% in 24 hours

Following rumours yesterday, and confirmation today, that HMV saw strong sales over the Christmas period, the company's share price has beaten overall market losses to record a 12 per cent rise in the past 24 hours.

The retailer noted a total sales increase of 2.9 per cent, with videogames an ever-increasing section of the overall revenue, while a statement also recognised the successful launch of the second-hand games business.

At 11.30am yesterday the company share price had fallen in-line with general market movement to GBP 1.19, but since then has risen to GBP 1.33 on the positive news.

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