Marks & Spencer's army of small shareholders were cheering today after the retailer's better-than-expected interim results sent shares surging by as much as 16% today.
With sales back above pre-pandemic levels, chief executive Steve Rowe is now forecasting annual underlying profits in the region of £500 million. He said: “The hard yards of driving long term change are beginning to be borne out in our performance."
Halfords also surged 11% after e-bike sales led to an upgrade to its profits guidance, while ITV shares jumped as chief executive Carolyn McCall said the broadcaster is on track for the highest advertising revenues in its 66-year history.
Inflation figures in the United States will provide a major test for markets later today amid expectations the consumer prices index will hit a 31-year high.
