Marks & Spencer Share News (MKS)

General retail stocks were under the weather on Monday as investors showed nervousness ahead of results from High Street bellwether Marks & Spencer and reacted to rate-hike speculation.Shares in M&S were down 1% this afternoon before its fiscal first-quarter update due out Tuesday morning which will be "dominated by the continuing problems of the Clothing/Online business", according to analysts at Shore Capital.Investors are currently waiting for an improvement in like-for-like (LFL) revenue trends in the General Merchandise division, which have been negative for the last 12 consecutive quarters. However, consensus forecasts point to another 1.5% decline in the first quarter, while Food LFLs are expected to grow around 2%.Department store peers Debenhams and Beale were also trading in the red today.Meanwhile, as economists continue to ponder over when the Bank of England will begin to raise interest rates in response to the recent improvement in economic data, comments from Morgan Stanley were likely weighing on investors' minds today.The US bank named the general retail category as a "rate-sensitive sector" and suggested that selling pressure could continue as markets begin to price in a rate hike.Morgan Stanley said: "The average rate-sensitive sector underperforms [the wider market] for 51 weeks around first rate hikes. This year the current underperformance has lasted 15 weeks so far - 28% of the historical norm. This suggests the underperformance of rate-sensitive sectors has longer to run. "During our analysis it was noticeable that sectors such as housebuilders and general retailers historically don't stop underperforming until close to the end of the rate hike cycle."Kitchen appliance retailer AO World was a heavy faller, dropping more than 5% as it continues to extend losses since its flotation in London in February. Since listing the stock has now fallen by nearly 37%.Others in the sector such as Pets at Home, Kingfisher, Ted Baker, Boohoo.com, Dunelm, Home Retail, ASOS and Sports Direct were also off shopping lists today.Top performing sectors so far todayIndustrial Metals & Mining 1,222.95 +1.27%Pharmaceuticals & Biotechnology 13,365.75 +0.14%Oil Equipment, Services & Distribution 24,821.07 +0.09%Bottom performing sectors so far todayPersonal Goods 22,887.32 -1.76%Forestry & Paper 11,266.84 -1.23%General Retailers 2,747.63 -1.10%Software & Computer Services 1,162.30 -1.06%Electronic & Electrical Equipment 3,859.45 -1.05%BC