Beleaguered retailer Marks & Spencer saw its share price tumble 4% today as investors fretted over the groups long-awaited results tomorrow.
With weekend reports suggesting that full-year figures from M&S will once again disappoint, the stock slipped another 10.5p at 262p.
The drop went against the trend for the FTSE-100 Index of blue-chip stocks, which was up 41.6 points at 5956.6 by 9am. Mining stocks, boosted by rising gold prices, helped push the FTSE higher, with South African group Billiton ahead by 10p at 385p.
Others digging out rises included Anglo American, ahead 25p at £11.95, Rio Tinto, up 30p at £14.60 and RJB Mining, stronger by a penny at 99p.
A clutch of old economy stocks provided the FTSE with momentum, with supermarket groups Safeway and Morrisons lifting 10.5p and 4. 5p at 384p and 199.5p respectively.
There was also a 5p rise at 788p for leisure group Bass, which today announced a £241m deal to buy a prestigious hotel in Hong Kong.
But there was not such good news for package holiday operator Airtours. It lost more than 5%, or 15p, at 277p after pre-tax losses widened during the six months to 31 March.
Among other companies reporting results today, Robert Wiseman Dairies lifted 2p at 119.5p after unveiling a 5% rise in sales and a 3% improvement in profits in its full figures.
EGi News 21/05/01
