HMV's share price drops, as trade reacts to 'shock' Giles news

<p>HMV's share price has fallen 10% in trading today, following the disappointing financial update and news that chief executive Alan Giles was to leave at the end of the year. The shares fell to 177.5p, marginally ahead of a 52-week low of 172.75p. Publishers and analysts have described the retirement of Giles as "shock news" and have suggested that he will not stay on for the full year. The move has also raised questions about HMV's desire to continue with its takeover of Ottakar's.

Giles announced his resignation saying that he wanted "more of a portfolio career--to do some non-executive...

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