IS M&S FACING FOOTSIE AXE?

MARKS & Spencer’s 34-year reign in the FTSE 100 could be under threat after its value was surpassed by Ocado.

Shares in the online grocer surged 45pc this week when it unveiled a deal with US chain Kroger, meaning it is worth £5.3bn. M&S is valued at £4.8bn and languishing in 98th place in the Footsie. A further fall in the beleaguered High Street stalwart’s shares could see it kicked out of the blue-chip index in a reshuffle at the end of this month. This would be a milestone for the business, which has been in the FTSE 100 since its creation in 1984.

Ocado would be a prime candidate to replace M&S, in a promotion from the FTSE 250.