M&S turnaround buoys investors but wider FTSE rally peters out
Evening Standard|March 22, 2023
MORE praise for Marks & Spencer's turnaround progress today reignited the retailer's shares as investors also continued their return to heavily sold banking stocks.
Graeme Evans
M&S turnaround buoys investors but wider FTSE rally peters out

Upgrades by three City firms as M&S bids to reverse long-term market share declines in clothing helped get investors back on side after a pause in the stock's recent rally. The widely held investment, which stood at 93p in October, surged 4% or 5.75p to 153.8p in the FTSE 250 index following new price targets that included Goldman Sachs at 180p.

The mood elsewhere was more cautious after the rally of the past two sessions petered out to leave the FTSE 100 index down 0.2% or 14.89 points to 7521.33.

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