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M&S faces relegation from FTSE 100 for 1st time; shares drop

Published 02/09/2019, 09:42
Updated 02/09/2019, 09:50
© Reuters. M&S faces relegation from FTSE 100 for 1st time; shares drop
UK100
-0.70%
GS
-1.94%

LONDON, Sept 2 (Reuters) - Marks & Spencer shares fell 1% on

Monday and were languishing at the bottom of the FTSE 100

.FTSE index on expectations the 135-year old retailer will be

relegated from London's blue-chip stock market for the first

time as part of the quarterly review.

Goldman Sachs (NYSE:GS) reinstated its coverage of the stock with a

'sell' rating, also hurting sentiment.

At 0833 GMT, shares were down 1%, lagging the index which

was up 0.9%.

M&S shares, which have been part of the FTSE 100 since its

inception in 1984, have lost about 40% of their value since

January 2018.

The review will be based on closing prices on Tuesday, with

the results announced after the end of trading on Wednesday and

going into effect on Sept. 23.

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