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Shares dip as bosses bag a big bonus

Shares dipped this week at retailers that announced big pay packets and bonuses for their top staff.

Marks & Spencer boss Stuart Rose's bonus almost doubled to £2.6 million this year, but M&S shares were down 25.5p to 667.5p.

Sainsbury's chief executive Justin King is set to pocket millions in cash and shares, plus a 17% pay rise to £850,000 next year. Shares were down 8.5p to 551p.

JJB Sports founder David Whelan's decision to sell his 29% stake in the group sparked talk that it would be vulnerable to a takeover. The surprise sale followed a statement in January that said Whelan did not intend to sell shares for a year. Shares fell 14.5p to 258.75p

Sports Direct paid £39m for a 5% stake in Finnish sportswear group Amer, which controls ski brand Salomon and tennis label Wilson. But the lack of a chairman means City confidence is still low. Shares were down 9p to 193p.

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