Marks & Spencer Share News (MKS)

Footsie came off its highs for the day, as retailers and banks did their best to drag the market lower. Nevertheless, the blue chip index finished 16 higher at 5,948.Invensys was sharply lower after RBC Capital Markets initiated coverage of the engineer with an "underperform" rating. That was the cue for profit takers to get out of the stock after its recent good run following the abrupt departure of its chief executive Ulf Henriksson, which prompted a revival of bid speculation. Meanwhile, MF Global dampened spirits at Marks & Spencer, sending it lower after starting coverage with a "sell" recommendation ahead of M&S's results next week.Elsewhere in the retail sector, Dixons Retail slumped more than 10% after a profit warning. The PC World and Currys owner says consumer confidence has deteriorated, particularly in Britain and Ireland. Sales growth has slowed at tile and wood flooring retailer Topps Tiles during the latter stages of the first half. Like for like sales rose about 1.8% in the 26 weeks to 2 April, down from 2% last year. They were up 3.2% for the first seven weeks, 2.2% for the 13-week period, and up an estimated 1.4% in the second quarter. Next was also a poor performer today, losing 2.6%.Elsewhere in the FTSE 100, oil company Tullow Oil sold off two-thirds of the interests it holds in numerous assets in Uganda for a cash sum of $2.9bn, with CNOOC and Total snapping up a third each. A big mover on the FTSE 250 is identity theft and credit card insurer CPP, which is recovering from a huge sell-off yesterday on the back of a FSA intervention into sales-related issues.The earthquake in New Zealand and the floods in Australia earlier this year should result in total claims of about $75m (£46.9m), while the Japan earthquake could result in losses of as much as $150m, the specialist insurer Hiscox has said. Domino's Pizza was also lower. Growth continued to slow at the pizza delivery company, blamed on tough comparatives and weakness in the Republic of Ireland. Like-for-like sales in 608 mature stores rose 4.2% in the 13 weeks to 30 March, down from 10.5% a year ago. They'd risen 4.7% in the first seven weeks and 11.9% in 2010. Housebuilder Bellway posted higher profits in the six months to 31 January after selling more homes at higher prices, but warned that consumer confidence remains fragile. Pre-tax profits rose to £24m from £19m, on turnover that was up to £407.9m from £360.8m. The interim dividend climbs to 3.7p from 3.3p. Menswear group Moss Bros has scrubbed up well on the back of revived like for like sales in the 52 weeks ended 29 January 2011. Trading remains in line with company expectations. BC