Marks & Spencer Group PLC may soon return to the FTSE 100 index after it ranked 110th on the London Stock Exchange after last night’s close.
The retailer’s shares surged yesterday after it upgraded full-year guidance and announced a return to profit in the first half.
M&S said it expects full-year profit before tax and adjusting items of around £500mln as it reported pre-tax profits of £187mln for the first six months.
READ: Marks and Spencer raises forecasts, swings back to profit above pre-COVID-19 levels
The good news led to a 16.5% surge in M&S shares, which closed at 226.5p yesterday.
The rise continued today, with the shares 2.03% higher at 231.10p mid-morning.