Marks & Spencer gains on former lieutenant's buy

Marks & Spencer was one of the few blue-chip stocks in positive territory today, up 13p at 230p in afternoon trading, rebounding slightly from its slide since last week's profit warning as vague talk of bid interest from J Sainsbury or Sir Philip Green helped scare short-sellers into closing positions. Later Sir Philip, who has his own problems with privately owned Bhs, reiterated that he was not interested in bidding for the high street giant. But the shares were also helped by Blue Oar Securities, which revealed that Charles Wilson, chief executive of Booker and a former close associate of Sir Stuart Rose at Marks & Spencer (M&S), has just bought shares in M&S. "Given his close knowledge of the business and its chief executive/chairman, this is telling," said the broker. In March 2007 Marks & Spencer said it was seriously... [read full story]