FTSE climbs as M&S beats forecasts

At shortly before 8.30am, the index had climbed more than 63 points, or 1.68%, to reach 3,826. It was also helped by near 3% gains in the basic materials sector and an increase of 2.3% for financials. Marks and Spencer tops the winner's table, rising 10.3% to 291.75p, after it released better-than-expected results for Q4 2008. The retailer's underlying sales slipped 4.2% but analysts had been anticipating a decline between 6.5% and 7.5%. Elsewhere, Barclays advanced 5.9% to 157.9p while mining giant Eurasian Natural Resources rose 5.83% to 440.5p. Resource companies, meanwhile, took a...