April 11, 2013 / 7:11 AM / in 5 years

FTSE pauses after rally, M&S bucks weak trend

LONDON, April 11 (Reuters) - Britain’s top shares slipped on Thursday, pausing after three straight days of gains, though Marks & Spencer bucked the weaker trend after a trading update that was less weak than some had expected.

The FTSE 100 was off 9.29 points, or 0.2 percent, at 6,378.08 by 0703 GMT, having over the past three sessions seen a 2.2 percent rally.

“Looking at a pretty slow start this morning (but)... I expect the FTSE... to continue on what has been a rather nervy rally with very little volume,” said James Hughes, chief market analyst at Alpari (UK).

“These rallies always have traders worried as the foundations of the move lies on can be very shaky and a sharp collapse is never too far away,” he said.

Marks & Spencer grabbed the top spot on the blue chip leader board, up 3.8 percent. Although the retailer posted a seventh consecutive quarterly fall in underlying general merchandise sales, the outcome was a touch ahead of expectations. (Reporting by Tricia Wright; Editing by Toni Vorobyova)

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