BUZZ-Marks and Spencer: Bottom of FTSE on Barclays downgrade

(Corrects year in fourth bullet to 2018)

** Retailer Marks and Spencer's shares down 2.7 pct, bottom of the FTSE 100, after Barclays (LSE: BARC.L - news) cuts rating on co to "underweight" from "equalweight", PT to 290p from 410p

** Analysts say co's turnaround plan, which involves cutting pricing on clothing lines, could keep general merchandise LFLs "deep in negative territory" in FY17 and FY18

** Now (NYSE: DNOW - news) see GM LFLs down 5 pct in FY17, 2 pct in FY18, 2-3 pctage points below their previous estimates

** Analysts add strengthening dollar and higher cotton prices will hit gross margins by 130 basis points in 2018

** Stock scores 3 out of a possible 100 on StarMine's ARM model, a measure of change in analyst sentiment, indicating sellside strongly bearish

** Turnaround plan was followed by a raft of broker downgrades earlier in the year

** Shares (Berlin: DI6.BE - news) bottom of the Stoxx 600 Retail Index, which is down 0.3 pct (venkateshasoumithri.mamidipudi.thomsonreuters.com@reuters.net)