M&S rises on market talk of bid interest: traders
LONDON (Reuters) - Shares in Marks & Spencer (MKS.L: Quote, Profile, Research, Stock Buzz) (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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