Source: Sharecast
Shares in Marks & Spencer sparked after the high street giant pledged to double the dividend and reiterated plans to ramp up food and clothing sales.
In a brief statement issued to coincide with a capital markets day, the retailer confirmed plans to achieve mid-to-high single-digit sales growth over the medium term, with profit growth ahead of sales. Within that, it expects to double food sales and deliver an operating margin of 5%; increase online participation for fashion, home and beauty to around 50%; and to build a more global M&S brand through capital-light channels.
Shell, BP and Ithaca all gushed lower as oil prices fell amid hopes the Iran was is nearing an end. Shell was also knocked lower by a downgrade to ‘neutral’ from ‘outperform’ at Santander.
Precious metals miner Fresnillo slumped as gold prices fell. Miners more generally were in the red, with Glencore, Antofagasta, Rio Tinto and Anglo American all lower.
FTSE 100 - Risers
Marks & Spencer Group (MKS) 456.70p 4.46%
Lion Finance Group (BGEO) 13,620.00p 2.71%
Computacenter (CCC) 4,758.00p 2.68%
Autotrader Group (AUTO) 572.00p 2.51%
Next (NXT) 15,910.00p 2.48%
JD Sports Fashion (JD.) 98.60p 2.28%
Prudential (PRU) 975.40p 2.17%
Associated British Foods (ABF) 2,044.00p 2.15%
Investec (INVP) 645.00p 1.90%
GSK (GSK) 1,939.00p 1.89%
FTSE 100 - Fallers
Shell (SHEL) 3,600.50p -2.78%
Fresnillo (FRES) 2,579.00p -2.24%
BP (BP.) 544.80p -2.07%
Glencore (GLEN) 506.60p -1.65%
Antofagasta (ANTO) 3,268.00p -0.94%
Rio Tinto (RIO) 6,347.00p -0.92%
Anglo American (AAL) 3,854.00p -0.80%
Ithaca Energy (ITH) 247.20p -0.76%
BT Group (BT.A) 211.80p -0.70%
Centrica (CNA) 154.00p -0.62%