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Better-than-anticipated sales figures resulted in M&S shares rallying by nine per cent following a drop in like-for-like sales of just over four per cent in the last quarter of the retailer's financial year.
Stuart Rose, M&S executive chairman, commented: "The actions that we have taken internally to stem the decline in our business are beginning to have some effect."
Mr Rose rejected criticism of his duel role as the chairman and chief executive of M&S, insisting that the retail giant "is fully aware of its obligation".
Meanwhile, shares in Clinton Cards surged by 19 per cent to 11.5p after it reported an improvement in trading and confirmed an extension of its bank facilities until 2012.
Barclays also saw a rise of 1.10p to 150.2p per share and Royal Bank of Scotland added a penny.
