The FTSE started the week with a rally on the back of better than expected numbers from major retailers; Next and Debenhams. Their figures were generally in line with expectations, but this was enough to spark a rally across the UK retailing sector, with Marks & Spencer also up ahead of its earnings announcement the following day. While last week’s Christmas trading numbers have been described as robust, Next in particular has warned that 2009 will be a very difficult year. There is a very real possibility that 2009 earnings will fall significantly below consensus estimates. Companies such as Marks & Spencer held off making redundancies until the New Year, and 2009 could see many other companies following suit. It appears that shoppers didn’t entirely ditch their spending habit last year, but with the jobs market set to worsen in 2009, Christmas 2008 could be seen as the shoppers’ last hurrah for a good few years.By placing a one touch trade predicting that Marks and Spencer will reverse last week’s rally and hit £2.00 within the next 40 days could return 116%.