Retailers were on the up on Friday afternoon after Marks and Spencer jumped on rumours that private equity titan CVC Capital Partners is considering a takeover offer for the High Street group.It is thought that CVC is looking at an offer and has approached executives both inside and outside the firm "about a possible management role under private equity control," according to Bloomberg which has spoken to unnamed sources close the matter.Shares in M&S fell the day before as analysts at Santander said that the company would be too expensive for private equity funds or sovereign wealth funds given its £8.2bn enterprise value. "While we agree that M&S has a strong brand heritage, we do not believe that there would be an appetite at current levels," a Santander analyst was quoted as saying.Sector peer Kingfisher was also in demand, the same day that Morgan Stanley reiterated its 'overweight' rating and 325p target price for the stock.Pharmaceuticals stocks were also making gains this afternoon with GlaxoSmithKline in the lead after announcing that it has completed, along with partner Theravance, the phase III programme of a 52-week safety study for its UMEC/VI medicine for the maintenance treatment of chronic obstructive pulmonary disease (COPD).This, along with other completed studies, "supports GSK's plans to commence global regulatory submissions for UMEC/VI from the end of 2012," the firm said. Sector peer AstraZeneca also rose this afternoon, as the pharma sector benefits as risk appetite is scaled back. Top performing sectors so far todayGeneral Retailers 1,831.15 +0.95%Health Care Equipment & Services 3,735.99 +0.82%Household Goods & Home Construction 7,349.86 +0.75%Pharmaceuticals & Biotechnology 9,946.96 +0.61%Food Producers & Processors 5,944.78 +0.56%Bottom performing sectors so far todayIndustrial Metals & Mining 2,597.88 -2.94%Automobiles & Parts 5,120.36 -2.19%Mining 17,819.02 -1.99%Electronic & Electrical Equipment 3,289.15 -1.71%Industrial Engineering 7,251.09 -1.58%