Green plan for M&S prompts FTSE surge

News that retail billionaire Philip Green was mulling a bid for troubled high street chain Marks & Spencer gave the London market a late lift today.

Shares in M&S soared to the top of the FTSE 100 Index, up nearly 19% or 54.5p to 345p, after the owner of Arcadia and BHS said he was planning a takeover approach in the next few days.