MARKET TALK: Marks & Spencer Rallies Ahead Of Interim Results

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) Contact us in London. +44-20-7842-9464 Markettalk.eu@dowjones.com (END) Dow Jones Newswires July 05, 2010 06:21 ET (10:21 GMT)