M&S rises on market talk of bid interest: traders

LONDON Tue Jul 8, 2008 7:54am EDT

Shoppers pass a Marks and Spencer store in central London July 2, 2008. REUTERS/Luke MacGregor

Shoppers pass a Marks and Spencer store in central London July 2, 2008.

Credit: Reuters/Luke MacGregor

LONDON (Reuters) - Shares in Marks & Spencer (MKS.L) (M&S) gained over 2 percent on Tuesday, as traders cited market talk of possible bid interest in the retailer.

Rival department stores owner Philip Green, who was linked with a stakebuild in M&S in January, was again mentioned as a possible suitor, traders said.

M&S declined to comment, while the spokesperson for Philip Green was not immediately available.

Some traders doubted whether there was any truth to the speculation and instead pointed to a bounce ahead of the M&S annual general meeting on Wednesday.

At 5:33 a.m. EDT, M&S was up 0.9 percent at 219 pence, while the FTSE 100 lost 2.4 percent.

(Additional reporting by Mark Potter)

(Reporting by Michael Taylor)

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