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Pin to quick picksMarks & Spencer Share News (MKS)

Share Price Information for Marks & Spencer (MKS)

London Stock Exchange
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Share Price: 302.00
Bid: 302.50
Ask: 302.70
Change: -1.90 (-0.63%)
Spread: 0.20 (0.066%)
Open: 303.00
High: 304.10
Low: 300.90
Prev. Close: 303.90
MKS Live PriceLast checked at -

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UK MARKET TALK ROUNDUP: SHARES GAINING

Mon, 05th Jul 2010 11:21

Stocks on the rise in the UK today. Compiled by Dow Jones Newswires Markets Desk, markets.eu@dowjones.com Contact us in London. +44-20-7842-9464 Markettalk.eu@dowjones.com 1021 GMT [Dow Jones] Marks & Spencer (MKS.LN) +2.8% at 342p, leading the FTSE's blue-chip gainers. It rises on positive momentum ahead of the company's interim management statement, Wednesday. Yusuf Heusen, sales trader at IG Index, says over the last year or so, the 320p/340p area has tempted the value buyers. "[M&S] will be hoping the latest numbers show the retailer is making steady progress, albeit against the backdrop of a fragile consumer recovery," he says. Liberum Capital expects the sales report to be strong and says the shares could rally on this during the week. Says given a strong start to the year, a relatively benign environment for gross margins and prudent cost guidance, forecasts look conservative. Has neutral recommendation. (andrea.tryphonides@dowjones.com) 0934 GMT [Dow Jones] Bank of America Merrill Lynch raises Victrex (VCT.LN) price objective to 960p from 825p. Brokerage increase EPS by 28% and 35% respectively for 2010 and 2011, following last month's positive 1H10 update on tonnage and margin progression. Says the secular growth of Victrex's Polyetheretherketone plastic material product 'PEEK' is likely to continue, replacing more expensive and/or less durable material, over the medium-term. However, keeps an underperfom rating, saying the stock has been a strong performer year to date, "but given contracting macro lead indicators and growing risks to auto production we see more defensive exposure within the sector being justified at this point." Shares +0.8% at 1063p. (ishaq.siddiqi@dowjones.com) 0918 GMT [Dow Jones] UBS cuts PayPoint (PAY.LN) target to 275p from 340p. Expects the shares to fall further if Camelot is allowed to enter the payment processing market by the Lottery Commission. The brokerage's bearish scenario suggests that PayPoint could see 44% lower earnings if Camelot enters the market. Expects the company to go to the Competition Commission if Camelot receives the required permission. Cuts PayPoint '11 EPS forecast to 32.9p from 37.3p and '12 to 37.3p from 40.6p. Keeps at neutral. Shares +2.4% at 271p. (andrea.tryphonides@dowjones.com) Contact us in London. +44-20-7842-9288 Markettalk.eu@dowjones.com (END) Dow Jones Newswires July 05, 2010 06:21 ET (10:21 GMT)
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