City Snapshot: M&S swings to loss of more than £200m as Covid takes its toll

M&S has sank into the red as revenues fell almost 12% to below £9bn in a year heavily disrupted by the coronavirus pandemic. Plus, Pepco shares jump more than 9% on stock market debut; cider maker C&C Group tumbles to a loss as lockdowns decimate revenues; and Finsbury Food Group lifts profits expectations.