The latest Investing Matters Podcast episode featuring financial educator and author Jared Dillian has been released. Listen here.

Less Ads, More Data, More Tools Register for FREE

M&S shares rise on report investment firm Apollo has examined bid

Mon, 22nd Nov 2021 08:03

LONDON, Nov 22 (Reuters) - Shares in Marks & Spencer
were up 2.9% in early trading after a report in The Sunday Times
said investment firm Apollo Global Management has been
"running the rule" over the British clothing and food retailer.

The newspaper cited "city sources" as saying Apollo
considered M&S a bargain, with the group's shares unreasonably
weighed down by the impact of the COVID-19 pandemic and the
market failing to attribute enough value to M&S's 50% stake in
Ocado's retail business.

The Sunday Times said it was unclear whether Apollo's
interest had been dampened by the recent surge in M&S shares -
up 33% over the last month.

M&S and Apollo declined to comment on the report.

Earlier this month M&S beat forecasts for first-half profit
and upgraded its earnings outlook for the second time this year,
sending its stock soaring on bets that one of Britain's most
elusive corporate turnarounds could finally materialise.
(Reporting by James Davey
Editing by William Schomberg)

Related Shares

More News
Today 09:22

LONDON BROKER RATINGS: JPMorgan puts B&M on 'negative catalyst watch'

(Alliance News) - The following London-listed shares received analyst recommendations Wednesday morning:

2 May 2024 17:06

FTSE 100 boosted by strong earnings from Shell, StanChart

StanChart jumps after posting a 5.5% rise in pretax profit *

2 May 2024 08:00

Ocado, Lidl and M&S are UK's fastest growing grocers, says NIQ

LONDON, May 2 (Reuters) - Online supermarket Ocado , discounter Lidl and upmarket food seller Marks & Spencer were Britain's fastest growing gro...

29 Apr 2024 17:13

Ocado pay policy opposed by 19% of votes cast at annual meeting

LONDON, April 29 (Reuters) - Some 19% of votes cast at Ocado's annual shareholder meeting on Monday opposed the online grocer and technology group's...

23 Apr 2024 12:00

LONDON MARKET MIDDAY: FTSE 100 pushes to new high; AB Foods surges

(Alliance News) - The FTSE 100 hit another intraday high on Tuesday, driven by data providing some "fresh optimism" about the UK economy.

Login to your account

Don't have an account? Click here to register.

Quickpicks are a member only feature

Login to your account

Don't have an account? Click here to register.