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Sir Philip Green has generated many and varied responses from people over the years, from love and admiration all the way over to the opposite end of the spectrum, but yesterday he came over all scary. Specifically, he affected short-sellers, who were scared into closing positions on Marks & Spencer after reports that Sir Philip and sovereign wealth funds were possible bid candidates. M&S rallied 14½p to 231½p as a result. Sir Philip denied any interest, but Charles Wilson, chief executive of Booker, which supplies M&S, is said to have been buying shares in recent days. Traders said that this was significant, given Mr Wilson’s close relationship with Sir Stuart Rose, the M&S chief, with whom he worked at Booker. Plainly, he believes that the shares have fallen too far but is also keen to support a key customer. Analysts... [read full story]
