Marks and Spencer rose 1.8 per cent to 486¾p after Oriel Securitities became the latest broker to back the retailer. Analyst Eithne O’Leary argued the group was at the start of a cyclical upswing, with forecasts upgraded, cash generated and returns on invested capital improved. Credit Suisse First Boston also raised its target price to 500p from 430p. M & S shares have risen 36.4 per cent since the start of September.
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