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    MKS   GB0031274896

MARKS AND SPENCER GROUP PLC

(MKS)
  Report
Delayed London Stock Exchange  -  11:35 2022-11-28 am EST
123.95 GBX   -1.39%
11/28Britain's BT nears union deal with new cost-of-living pay rise
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Banks, miners drive FTSE 100 to two-week highs

09/12/2022 | 04:57am EST

 (For a Reuters live blog on U.S., UK and European stock
markets, click LIVE/ or type LIVE/ in a news window)
    * GDP grew by 0.2% in July from June vs. est 0.4%
    * Miner Ferrexpo rises after Ukraine forces score victories
    * FTSE 100 and FTSE 250 add 1.7% each 

 
    By Johann M  Cherian and Bansari Mayur Kamdar
    Sept 12 (Reuters) - UK stocks rallied into the close on
Monday, with a surge in banking and mining stocks pushing the
blue-chip FTSE 100 to over two-week highs even as data showed
Britain's economy expanded less than expected in July.
    The FTSE 100         and the domestically focussed midcap
index         gained 1.7% each, aided by an upbeat global mood
on news that Ukrainian forces advanced into territory seized
from Russian troops, their worst defeat since the war's early
weeks.             
    European markets, most affected by the war spanning several
months, surged. The region's stocks gauge          closed up
1.8%.
    "Kyiv's sudden momentum has many hoping that this moment is
a turning point with the war against Russia," said Edward Moya,
senior market analyst at Oanda.
    Ukraine-focused miner Ferrexpo Plc          jumped 11.3% to
top UK's midcap index.             
    Battered retail stocks                were the best
performers on the day with a 4.4% rise. Shares of Marks and
Spencer         and Asos          climbed over 7%, while Tesco
         jumped 5.5%.
    Investors will focus on UK jobs and inflation data later
this week for clues on the health of the domestic economy and
direction of interest rates.
    Data on Monday showed Britain's economy grew less than
expected in July, raising the risk that it is already in a
recession, with the sharp climb in energy tariffs hurting demand
for electricity and a leap in the cost of materials hitting the
construction sector.             
    "The slow start to Q3 combined with a now confirmed Bank
Holiday on 19 September should put the economy on course for a
technical recession – albeit a marginal one – in Q3," Deutsche
Bank's Sanjay Raja wrote in a note.
    However, investors shrugged off the data amid global risk-on
moves on hopes of cooling U.S. inflation.               
    Mining stocks                gained 2.1%, tracking stronger
metal prices on supply risks in top consumer China and a weaker
dollar.        
    A 1.2% jump in energy stocks                on higher crude
prices also buoyed the UK markets.      
    HSBC          rose 2.1% after its Chief Financial Officer
Ewen Stevenson told an investor conference that the bank will
most likely resume share buybacks in the second half of next
year.             

 (Reporting by Johann M Cherian, Bansari Mayur Kamdar and
Aniruddha Ghosh in Bengaluru; Editing by Saumyadeb Chakrabarty,
Sriraj Kalluvila and Lisa Shumaker)
  
 
 

ę Reuters 2022
Stocks mentioned in the article
ChangeLast1st jan.
ASOS PLC -3.74% 618 Delayed Quote.-74.15%
FERREXPO PLC -1.86% 142.8 Delayed Quote.-52.30%
FTSE 100 -0.17% 7474.02 Delayed Quote.1.38%
FTSE MID 250 INDEX -1.30% 19292.35 Delayed Quote.-16.76%
MARKS AND SPENCER GROUP PLC -1.39% 123.95 Delayed Quote.-46.43%
TESCO PLC -1.02% 232.6 Delayed Quote.-19.77%
US DOLLAR / RUSSIAN ROUBLE (USD/RUB) 0.65% 60.35 Delayed Quote.-19.07%
All news about MARKS AND SPENCER GROUP PLC
11/28Britain's BT nears union deal with new cost-of-living pay rise
RE
11/28Food of the future: London air raid shelter to underground farm
RE
11/25Factbox-Dim the lights: Europe's retailers scramble to cut energy..
RE
11/25Strikes, protests in Europe over cost of living and pay
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11/24Factbox-Strikes, protests in Europe over cost of living and pay
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11/23Factbox-Strikes, protests in Europe over cost of living and pay
RE
11/21LONDON BROKER RATINGS: Panmure and Goldman Sachs cut boohoo from '..
AN
11/21UK Retailer Joules Group Explores Takeover Deal With South Africa's Foschini Group
MT
11/18Britain's M&S names former Rentokil exec as interim finance chief
RE
11/18British Retailer Marks & Spencer Appoints Interim CFO
MT
More news
Analyst Recommendations on MARKS AND SPENCER GROUP PLC
More recommendations
Financials
Sales 2023 11 295 M 13 583 M 13 583 M
Net income 2023 292 M 351 M 351 M
Net Debt 2023 2 713 M 3 262 M 3 262 M
P/E ratio 2023 8,40x
Yield 2023 3,49%
Capitalization 2 435 M 2 928 M 2 928 M
EV / Sales 2023 0,46x
EV / Sales 2024 0,44x
Nbr of Employees 65 000
Free-Float 99,6%
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Mean consensus OUTPERFORM
Number of Analysts 21
Last Close Price 123,95 GBX
Average target price 135,00 GBX
Spread / Average Target 8,91%
EPS Revisions
Managers and Directors
Stuart Machin Co-Chief Executive Officer & Director
Katie Bickerstaffe Co-Chief Executive Officer & Director
Eoin Philip Tonge CFO, Executive Director & Chief Strategy Officer
Archibald John Norman Chairman
Sacha Berendji Director-Retail, Operations & Property
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