Marks & Spencer and energy companies take hope away from FTSE rise

It took just three days of the New Year to see the FTSE 100 falls down 19 points after a good start to the year mainly thanks to RBS and Barclays. This time it is retailers and energy companies under the microscope.

Marks & Spencer is the main company leading the fall, after its trading update. M&S reported a rise in underlying sales in the run up to Christmas, but warned of a tougher 2010. M&S shares are down 21.6p at 383.3p.

Even though it is believed to be the worst winter in 50 years, energy companies have fallen following a dip in the oil price after a surprise rise in US inventories. Oil services company Petrofac fell 31p to £10.
However, there is no stopping Royal Bank of Scotland, up again as investors continue to believe the worst could be over for the bank.

Source guardian.co.uk.