Marks & Spencer Shares Gained More than 2% with the Help of an Unknown Islandic Investor

Marks & Spencer share price has reached 354.25p today, almost 2% more than the early June reports.

The Guardian newspaper has speculated earlier today that the Icelandic banks Kaupthing and Landsbanki or the retail specialist Baugur could be behind the move.

Marks & Spencer is about to release an official statement about these rumors.

Baugur, which is the most important Icelandic investment house in the UK, has only declared that this kind of
rumors "seemed to crop up weekly", as quoted by Times Online.

To respect the stock market rules, the investor - whoever it might be - is expected to announce within 3 days if he had bought more than 3% of the company (with a value of 170 billion pounds in this case), stated the newspaper, according to Reuters agency.