Marks & Spencer to drop out of FTSE 100?

Marks & Spencer to drop out of FTSE 100?

UK high street stalwart Marks & Spencer (M&S) is expected to crash out of the FTSE 100 this week as retail sales plummet in the run up to the October 31 Brexit deadline, according to a report published by The Guardian.

The UK retailer has been in the index of leading shares since its launch 35 years ago but Chairman Archie Norman downplayed its importance: “When I went to ITV we dropped out of the FTSE 100, the sky didn’t fall in,” he told The Guardian.

Retail sales are falling fast as uncertainty intensifies across Britain in the face of a likely ‘no deal’ Brexit. CBI reported the sharpest drop in retail sales since 2008 in August.

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