Morning Markets: FTSE rallies despite M&S let down

The FTSE 100 has built on yesterday's gains, climbing 41.86 points (0.94%) to 4,488.31 despite disap...

The FTSE 100 has built on yesterday's gains, climbing 41.86 points (0.94%) to 4,488.31 despite disappointing results from Marks & Spencer Group. M&S is the biggest loser so far, plunging 7.07% to 315.25 after revealing a final dividend cut of a third. The retailer saw a hefty drop in pre-tax profits to £706.2m from £1.13bn. It plans to cut its dividend payment to 15p a share from 22.5p. Other high street retailers are also weighing the FTSE down, with Next sliding 3.4% to 1505p. Home improvement giant Kingfisher falls 2.49% to 179.80p, while Home Retail Group sheds 1.8% to 245p. Int...