M&S default swaps worst performers

Credit-default swaps for Marks & Spencer Group Plc were Europe’s worst performers last week on speculation that buyout companies such as Kohlberg Kravis Roberts & Co may fund a purchase of the retailer by taking on more debt.

Five-year swaps on Marks & Spencer, Britain’s largest clothing retailer, rose by 10 basis points in the week to 56 basis points Friday.