Stuart Rose's proposals to reform Marks& Spencer Group and sell its financial services unit have knocked the confidence of its investors this morning and start the FTSE 100's week in the red.
The FTSE 100 index slipped 9.6 points or 0.2% to 4383.4 within the first hour of trading in London this morning while the FTSE All-Share index fell 3.6 points or 0.2% to 2185. Chief executive of M&S Stuart Rose plans to sell the financial services unit to raise £2.3bn and fend off a takeover bid by Philip Green, after he this weekend set out his final offer of £9.1bn in cash. As a result, M&S is now down 4p or 1.1% to 364p. BP, the oil company, is also having a bad day and has so far fallen 2.5p or 0.5% to 494.5p. The FTSE 250 index has so far managed to gain a small increase, risi...
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