Shares in the high street retailer surged just more than 8% to an 18-month high of just over 221p yesterday after analysts said profits could come in higher than previously flagged, warming M&S up for re-entry to the FTSE 100 share index in September, for the first time in four years.
Shore Capital, which acts as house broker for M&S, raised its profits forecast by 9%.
Deutsche Bank analysts were impressed, saying M&S was "regaining its magic. Sparkle still to come". They added: "M&S has shown further evidence of its journey along the road to redemption with a very strong 19-week trading performance."
In an unscheduled update to the City yesterday morning, M&S told investors its interim results, due to be published in November, would show "a significant improvement" against previous expectations.
Bu hikaye The Guardian dergisinin August 16, 2023 sayısından alınmıştır.
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Bu hikaye The Guardian dergisinin August 16, 2023 sayısından alınmıştır.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 9,000+ magazines and newspapers.
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