Marks & Spencer Share News (MKS)

City sources predict the FTSE 100 will open around 16 points higher than yesterday's close of 6,764, with modest gains in the US and a mixed performance across Asia seen overnight. The gains in the US were driven in part by encouraging earnings from the likes of Kellog Co., and saw investors shrug off concerns about a scaling back of stimulus and a slight miss in factory orders data. Later today, the Institute for Supply Management's non-manufacturing composite index for October is anticipated to ease back to 54 from the prior month's 54.4.However, this morning's attention will be firmly on the raft of UK data due out, including house prices, retail sales and services activity. According to consensus expectations, Halifax will say house prices rose by 0.9% in October compared to an increase of 0.3% the month before, while the British Retail Consortium's sales figures are expected to show a like-for-like jump of 1.1% last month ahead of a 0.7% rise in September. The UK services purchasing managers' index (PMI) is tipped to fall to 60 in October from 60.4 in September. A reading above 50 signals expansion.In other news, Wonga, the provider of payday loans, has said in an interview with Newsnight that the majority of its customers are happy with their services and that it believes its bad press has been the result of misrepresentation. University College London has released the results of a study which show that since 2000 immigrants have made a "substantial contribution" to public finances, with those arriving to the UK after 1999 45% less likely to receive benefits or tax credits between 2000-2011. Associated British Foods posts robust full-year results, M&S profits plunge 9%Associated British Foods delivered a robust set of annual results following a strong performance from Primark and Agriculture, and an improvement in Grocery, while trading in the Sugar business was in line with company expectations. Group revenue rose 9% to £13.3bn for 52 weeks ended September 14th while adjusted operating profit climbed 10% to £1.2bn. Adjusted pre-tax profit was up 13% to £1.1bn.Half-year underlying pre-tax profit fell by 8.9% to £261.6m at Marks & Spencer, not as bad as many analysts were expecting, although like-for-like clothing sales disappointed. The retailer has been working to turn around its struggling clothing division and relaunched its Womenswear range during the period, with Chief Executive Marc Bolland said the Autumn/Winter collection was "well received" in its first three weeks in stores.Distribution and outsourcing group Bunzl has acquired Canadian business Wesclean Equipment & Cleaning Supplies, which supplies to a variety of customer markets. The business, which was acquired for an undisclosed sum, generated revenue of C$65m (c. £39m) for the year ended September 30th.Imperial Tobacco Group saw its annual tobacco revenue fall one per cent to £20.8bn as volumes declined 7%. Pre-tax profit came to £2.64bn in the year to end of September, up slightly from the previous year's £2.62bn as net finance costs dropped and earnings per share rose to 210.7p from 201p.Holiday Inn and Crowne Plaza operator InterContinental Hotels Group (IHG) said it delivered a 'solid' performance in the third quarter with global revenue per available room (RevPAR) up 3.3%. The company said it saw RevPAR growth across all its four major geographies during the three months to September 30th, driven by its preferred brands. NR