TSX runs higher on rate cut expectations
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.