Marks & Spencer set for FTSE 100 return

Marks & Spencer is expected to rejoin the UK's FTSE 100 next month, four years after it dropped out of the index.

The high street retailer was demoted from the FTSE 100 to the FTSE 250 in 2019, after its value fell below the threshold for inclusion.

As a founding member of the FTSE 100, the move marked the first time M&S had lost its position since the index’s creation in 1984.

However, following the continued execution of its turnaround plan and improved trading, global index provider FTSE Russell said the retailer is now expected to regain its position this September.

Earlier this month, M&S raised its profit outlook for the financial year after reporting continued market share growth across clothing, home and food.

The retailer also said it was making "good progress" on its programme to reshape the business.

It said its half-year results for the six months to September, which are due to be released in November 2023, are expected to be ahead of earlier forecasts.

The actual review of the FTSE 100 and 250 will be carried out when the market closes on 29 August and confirmed changes will be announced after the close on 30 August.