M&S shares surge on 'takeover bid'

Shares in Marks & Spencer have surged on speculation that the high street retailer is an £8 billion bid target for Middle Eastern investors.

The stock jumped 8% at one stage, adding more than £500 million in value, after The Sunday Times said the Qatar Investment Authority (QIA), the Gulf state's sovereign wealth fund, is in talks with private equity and banks about an approach.%VIRTUAL-SkimlinksPromo%