M&S chief's £679,000 share deal

MARKS & Spencer's chief executive, Luc Vandevelde, spent £679,000 buying company shares last week. The buying was part of his contract, which requires him to spend half his bonus on shares.

But international director David Norgrove took the chance to sell. He exercised options that were due to expire on Friday, but rather than hold on to the stock he immediately sold, making a modest profit of £13,000.

Last year he was not quite so fortunate - he exercised options at 254p when M&S was 260p, managing little more than break even.