Marks & Spencer

Ticker MKS

Today's data summary

Market open
% change
+0.17%
Price Pence
286.70
Change
+0.50
As of 13:04 24 Sep 2018
Market cap. Pound sterling
4,656.79 million
As of 13:04 24 Sep 2018

Latest updates

RBS leads FTSE 100 risers

RBS
Getty Images

Despite Bob Diamond's comments earlier (see post at 8.14am), RBS is leading the FTSE 100 risers with its share price up 1.72% at 248.9p.

RBS's chairman Sir Howard Davies says that the bank could use £4bn of surplus capital to pay a special one-off dividend to shareholders.

Marks & Spencer is the morning's biggest faller, down 2% at 287.4p.

The wider FTSE 100 is off 0.10% at 7,305.99.

Irish sandwich maker Greencore is the largest gainer on the FTSE 250, up 4.95% at 201.2p.

ContourGlobal, the power generation firm, is off 4.4% at 203.7p.

The FTSE 250 is marginally lower at 20,373.93.

M&S to ditch financial figures at its AGM

M&S branch
Getty Images

In a slightly unusual move Marks & Spencer has decided to skip its usual trading update when it meets shareholders at its annual general meeting tomorrow.

The reason? It will be the first AGM under the retailer's new chairman, Archie Norman, who was parachuted in last year to lead a turnaround of the business and he apparently wants to take a more long-term view of the embattled business.

Clive Black, retail analyst at Shore Capital, said it was "relatively unusual" for a company not to update the market on trading at its AGM, but that there was no requirement for M&S to do so."

But Richard Hyman, an independent retail analyst, said: "If they had good news, they would probably want to share it."

The AGM is being held at Wembley Stadium at 11am on Tuesday 10 July.