Marks & Spencer Share News (MKS)

London looks set to shrug off fears about an impending end to stimulation of the US economy and open higher, with City traders predicting the top share index will open around 17 points firmer at 6,024.Minutes from the latest Federal Reserve meeting, released last night, showed the removal of stimulus measures could be on the cards, as some Fed officials now believe the world's biggest economy should draw a line under the quantitative easing measures that were implemented in response to the 2008-09 global financial crisis.Back on this side of the pond, high street stalwart Marks & Spencer saw a sharp drop in like-for-like sales of clothes and other non-food items in the 13 weeks to 2 April as the cash-strapped British consumer cut back amid tough times. General merchandise sales were down by 3.4% from the same period last year, which was not as bad as some analysts estimates of a more than 5% decline. Food sales were up by 3.4% on a like-for-like basis, resulting in overall like-for-like sales growth of 0.1%.Drugs firm Shire has filed a lawsuit against US rival Watson Pharmaceuticals, claiming an infringement of Shire's ADDERALL XR patents, and a breach of contract.The squeezed British consumer still has enough cash to spare for inexpensive meals out, judging by Italian restaurant chain Prezzo's full-year results. Adjusted pre-tax profits in the 53 weeks to 2 January were up by 12% from the previous year to £14.4m on revenues that climbed by 15% to £104.8m. Prezzo also reported a strong start to 2011 and said it is confident for the year ahead.Norwegian Airlines has ordered its first ever Rolls-Royce engines. Norwegian has selected Rolls-Royce's Trent 100 engines to power nine Boeing 787 Dreamliner aircraft. The airline has also signed a $450m Rolls-Royce TotalCare long-term engine services contract. ---jh