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Pin to quick picksMarks & Spencer Share News (MKS)

Share Price Information for Marks & Spencer (MKS)

London Stock Exchange
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Share Price: 302.80
Bid: 301.40
Ask: 301.60
Change: 0.80 (0.26%)
Spread: 0.20 (0.066%)
Open: 302.50
High: 305.40
Low: 300.40
Prev. Close: 302.00
MKS Live PriceLast checked at -

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Exane ups Home Retail, downgrades Marks & Spencer

Fri, 22nd Jan 2016 09:15

(ShareCast News) - Exane BNP Paribas took a look at general retailers, upping its stance on Home Retail but cutting its rating on Marks & Spencer.The bank lifted Home Retail to 'neutral' from 'underperform', bring the price target up to 150 from 80p, given the likelihood of a bid from Sainsbury's, but with a lack of visibility over the price."A struggling and structurally pressured core business looks to have found a potential suitor. These opportunities won't come along often, Sainsbury's management sound enthused, and our central case is that a deal completes," it said.It said the sale of Homebase makes strategic sense, adding that while the business appeared to be stabilised, it was a distraction neither Home Retail nor Sainsbury needed.In addition, Exane reckons the sale price of £340m, or £265m excluding costs, is reasonable, but said the £20m dent in the group's ongoing profitability means the business hasn't been much more than given away.This leaves investors and analysts pondering over the value of Argos, said the bank.It pointed out that following the disposal, Home Retail has a cash pile of around £350m and a pension liability of about £150m.It estimates the merger could generate around £100-150m of synergies, but said Sainsbury's won't want to pay a multiple that implies all are delivered."With 185p being the upper end of what Sainsburys may pay, we take a 20% cut to this to reflect the associated risk. Given the proximity of the share, we derive a 'neutral' rating."The bank downgraded Marks & Spencer to 'neutral' from 'outperform' and cut the price target to 465p from 580p.Exane said the revolution of the M&S supply chain, logistics and technology has driven two yeas of P&L stabilisation, with margins improved and market share sacrificed.It said that while there is more margin to go for, gains are likely to slow, and this part of the investment case now looks better understood."That leaves M&S more reliant on revenue momentum, and with structural trends accelerating, and real estate flexibility still limited, we (admittedly 6 months too late) move to the sidelines to await news of the next phase under new management."Exane said the opportune time to move to the sidelines would have been six months ago, before revenue declines persisted against soft comparatives.At 0926 GMT, Home Retail shares were up 4.3% to 143.10p while M&S was up 0.7% to 420.40p.
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8 Nov 2023 08:48

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8 Nov 2023 08:35

TOP NEWS: Marks & Spencer cautiously optimistic as profit jumps

(Alliance News) - Marks & Spencer Group PLC on Wednesday reported improved interim results and early signs suggest the clothing, home and food retailer will enjoy a robust Christmas.

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8 Nov 2023 07:45

LONDON BRIEFING: M&S profit surges; JD Wetherspoon upping investment

(Alliance News) - London's FTSE 100 is called to open lower on Wednesday, with equities on the back foot after more hawkish comments from a US central banker.

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8 Nov 2023 07:01

M&S cautious on H2 despite 52% jump in interim profit; Divi restored

(Sharecast News) - UK retailer Marks & Spencer on Wednesday reinstated its dividend and delivered a 56.2% rise in first-half profits, but warned sounded a note of caution about future trade in the run in to Christmas citing higher interest rates, weather and geopolitical events.

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7 Nov 2023 12:07

LONDON MARKET MIDDAY: Housebuilders and retail up, miners and oil down

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3 Nov 2023 11:52

Bangladesh protests halt production for top fashion brands - union

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1 Nov 2023 16:52

LONDON MARKET CLOSE: Stocks prosper ahead of central bank rate calls

(Alliance News) - Stocks in London took their lead from a positive start on Wall Street to close higher as investors prepare for interest rate decisions in the UK and US.

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1 Nov 2023 16:35

London close: Stocks rise ahead of US Fed policy decision

(Sharecast News) - London's stock market finished in positive territory on Wednesday, with investors keeping a keen eye on the upcoming policy announcement from the US Federal Reserve.

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1 Nov 2023 15:44

UK earnings, trading statements calendar - next 7 days

Thursday 2 November 
BT Group PLCHalf Year Results
Derwent London PLCTrading Statement
Entain PLCTrading Statement
Haleon PLCQ3 Results
Helios Towers PLCQ3 Results
Hikma Pharmaceuticals PLCTrading Statement
Howden Joinery Group PLCTrading Statement
J Sainsbury PLCHalf Year Results
Kin & Carta PLCFull Year Results
OSB Group PLCTrading Statement
Shell PLCQ3 Results
Smith & Nephew PLCQ3 Results
TI Fluid Systems PLCTrading Statement
Trainline PLCHalf Year Results
Friday 3 November 
no events scheduled 
Monday 6 November 
Kingspan Group PLCTrading Statement
Kosmos Energy LtdQ3 Results
Ryanair Holdings PLCHalf Year Results
Tuesday 7 November 
Associated British Foods PLCFull Year Results
Beazley PLCQ3 Results
Direct Line Insurance Group PLCTrading Statement
dotdigital Group PLCFull Year Results
IWG PLCQ3 Results
Persimmon PLCTrading Statement
RS Group PLCHalf Year Results
Vaalco Energy IncQ3 Results
Watches of Switzerland Group PLCTrading Statement
Wednesday 8 November 
Conduit Holdings LtdQ3 Results
ITV PLCTrading Statement
JD Wetherspoon PLCQ1 Results
Marks & Spencer Group PLCHalf Year Results
MaxCyte IncQ3 Results
Secure Trust Bank PLCTrading Statement
Smiths News PLCFull Year Results
Time Out Group PLCFull Year Results
  
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(Alliance News) - The following London-listed shares received analyst recommendations Friday morning:

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23 Oct 2023 19:21

London close: Stocks mixed at start of busy week

(Sharecast News) - London's stock markets finished with a varied performance on Monday, driven by concerns over rising UK bond yields and global interest rate trends.

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11 Oct 2023 15:01

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(Sharecast News) - Stocks in London ended in the red on Wednesday, impacted by heightened concerns regarding global inflation and ongoing situations in the Middle East.

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10 Oct 2023 12:01

LONDON MARKET MIDDAY: Stocks push higher as rate rise fears ebb

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10 Oct 2023 08:44

TOP NEWS: UK grocery price inflation cools; sales lifted by promotions

(Alliance News) - UK grocery price inflation cooled to a seventh-month low of 11% in the four weeks to October 1 as prices of staple foods dropped, according to survey data from Kantar on Tuesday.

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29 Sep 2023 12:21

Broker tips: Marks & Spencer, Intertek, Landsec

(Sharecast News) - Bank of America Merrill Lynch upgraded Marks & Spencer on Friday to 'buy' from 'neutral' as it argued the stock is still too cheap and consensus earnings too low.

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