M&S shares down after takeover bid fails

Shares in Marks & Spencer fell 6% today after retail entrepreneur Philip Green walked away from the battle to land the struggling high street group.

Despite the 20.5p (30.7c) decline to 343.5p (€5.10), the blue-chip stock remained well above the 290p (€4.30) price seen prior to the emergence of interest from the Bhs boss.