Marks & Spencer has emphasised that a "wide ranging review of its business operations at home and abroad" should not be seen as "a precursor to moving out of [continental] Europe". The revival of persistent rumours that the struggling retailer is considering pulling the plug on its underperforming continental European operations caused an upsurge in M&S stock last week. M&S's European operations (excluding the UK) chalked up losses of £14.8m last year, and analysts have urged the company to focus on getting things right in the domestic market, where it generates over 85% of its sales. A spokesman confirmed M&S has instructed estate agent Healey & Baker to review its property holdings in Spain, France, Germany and Portugal, but insisted the review was standard practice so M&S can keep abreast of the market value of its property holdings. {{NEWS }}