LONDON (ShareCast) - Marks & Spencer is leading the retail sector higher after reporting a rise in sales over the first quarter.
Total UK sales rose 1.7% over the period marking a further improvement in the trend seen over the last
two quarters. General Merchandise rose 1.2% (Clothing +1.4%; Home +0.1%) and Food increased 2.0%, both helped slightly by the timing of Easter.
The news is a welcome tonic for the sector, which earlier this week had to digest some cautious statements from companies such as music and DVD chain HMV and online fashion retailer Asos (LSE: ASC.L - news) .
M&S, HMV and clothes retailer Next are among the best performers in the sector.
The financial sector is in the red.
It's not all gloom in the sector though, with investment bank Evolution climbing after it said it continues to perform well with the expansion of its institutional equities business proceeding according to plan.
Top performing sectors so far today
Mining 14,343.31 +3.31%
Chemicals 3,346.19 +2.25%
General Retailers 1,410.67 +2.18%
Industrial Transportation 1,567.43 +2.06%
Industrial Metals 3,962.07 +1.90%
Bottom performing sectors so far today
General Financial 4,274.98 -1.24%
Automobiles & Parts 1,933.09 -1.21%
Construction & Materials 3,267.85 -0.71%
Industrial Engineering 2,422.11 -0.67%
Real Estate 1,549.25 -0.50%
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