FTSE slips slightly

Potential private equity bid excitement surrounding Marks & Spencer was today filling the void left by Sainsbury's, as the consortium eyeing the supermarket chain finally abandoned its takeover attempt.

M&S saw its shares leap 3%, or 20p, to 715p after an analyst highlighted the retailer's attraction, soaking up some of the disappointment after news that the Sainsbury's suitors, led by CVC Capital Partners, had abandoned their £10bn (€14.9bn) takeover plans.