Morning Markets: M&S climbs despite cut in profits

Shares in retail giant Marks & Spencer rose over 7% this morning despite reporting a 43% dip in first...

Shares in retail giant Marks & Spencer rose over 7% this morning despite reporting a 43% dip in first half profits. Executive chairman Stuart Rose said business was “volatile” last month as consumers were forced to cut spending. However previous analyst warnings that the group would be cutting its dividend proved unfounded. The group reassured shareholders there are currently no plans to change the dividend policy, boosting the share price. Meanwhile RBS’s share price fell over 7% as it emerged will write down £1.4bn of assets in the third quarter and may post a full-year loss. The b...