HMV shares surge by over 30pc

HMV’s shares surged 32.6 per cent to 15.25p yesterday after chief executive Simon Fox said he was “confident” that the struggling retail firm would survive. Fox said talks the music, books and gaming group was having with its consortium of eight banks, including the state-backed Royal Bank of Scotland and Lloyds Banking Group, were “very positive”. But he said the firm’s staff were having a tough time. “Our premature death and our problems are being much written about and that’s very, very destabilising,” he said.