The deputy chairman of Marks & Spencer, Sir David Michels has bought 37,734 shares, together with Michele Michels. This takes Sir David’s holding to 113,984 shares. Like any other retailer, M&S has been experiencing difficult trading conditions. However, the shares closed the week 10.25p up at 276p on the news of the share deal and sales growth witnessed by two other companies in the sector - John Lewis and H&M.

John Lewis followed up its positive Christmas period trading performance with the news that last week saw the biggest sales drop in almost a year. A director blamed the downturn on the ‘unusually’ warm weather and not read too much into the figures as longer erm trading prospects remain positive.

The claims of warmer weather are supported by met office figures which show February temperatures being 1.2 degrees higher than average. Maybe John Lewis should expand its northern operations as its been cold enough to freeze the balls off a brass monkey up here!