Marks & Spencer Share News (MKS)

(ShareCast News) - Despite some early gains, the FTSE 100 index closed in the red on Monday, finishing down 0.54% at 6,084.59.The index was led lower by Wm Morrison Supermarkets as its shares were sold down after HSBC slashed its forecasts for 2016-2018 by 20-30% apiece and maintained a 'reduce' rating. The company is facing a difficult turnaround that will take "years, not months", the bank's analysts said, and while MRW has some competitive advantages there are "more disadvantages in a very difficult industry in transition".Marks & Spencer, Sainsbury and Tesco were also dragged lower as the BRC-Springboard survey highlighted the low footfall hitting the retail industry in August. The overall rate of footfall fell below the twelve-month moving average of minus 1.4%, coming in at minus 1.6%.Glencore was a sizeable tumbler after news emerged that its 74%-owned Katanga mining project in the Democratic Republic of Congo will see production suspended for 18 months.Boosted by bullish news about its major client Apple's strong iPhone sales, ARM Holdings was the strongest riser on Monday. Further helping the shares was Morgan Stanley comments predicting that the microchip company may soon begin returning more cash to shareholders, with next week's analyst day a potential opportunity for management to elucidate.International Consolidated Airlines, the owner of British Airways, was also lifted by broker comments. Analysts at Credit Suisse said things were looking up for up for IAG shares in 2016 given improved pricing on its trans-Atlantic routes, the pricing behaviour within the sector in general and the stock's current valuation.Some banks, including Lloyds and Standard Chartered were also fallers. Earlier Bernstein told clients that it didn't see a dramatic cost gains soon from investment in 'fintech'. FTSE 100 - RisersARM Holdings (ARM) 950.50p +1.77%Hargreaves Lansdown (HL.) 1,187.00p +1.63%Carnival (CCL) 3,440.00p +1.62%BHP Billiton (BLT) 1,070.50p +1.23%Rio Tinto (RIO) 2,410.00p +1.13%International Consolidated Airlines Group SA (CDI) (IAG) 590.00p +1.11%Imperial Tobacco Group (IMT) 3,267.00p +0.86%Inmarsat (ISAT) 1,030.00p +0.78%Barratt Developments (BDEV) 659.00p +0.76%Mondi (MNDI) 1,478.00p +0.75%FTSE 100 - FallersMorrison (Wm) Supermarkets (MRW) 158.60p -4.00%Glencore (GLEN) 129.00p -3.59%Marks & Spencer Group (MKS) 494.70p -2.04%Antofagasta (ANTO) 596.00p -1.89%Capita (CPI) 1,200.00p -1.48%Lloyds Banking Group (LLOY) 74.77p -1.33%Sainsbury (J) (SBRY) 230.30p -1.33%Standard Chartered (STAN) 706.40p -1.31%Ashtead Group (AHT) 998.00p -1.09%Tesco (TSCO) 179.40p -1.08%