Morrisons on verge of FTSE 100 checkout

IT IS likely to be a case of third time unlucky for Morrisons as it stands on the brink of an exit from the FTSE 100.

The supermarket group escaped relegation in the quarterly reviews in June and September, but its share price has continued to struggle and the retailer is deep in the relegation zone ahead of the cut-off point of next Tuesday.
Currently Bradford-based Provident Financial is in pole position to replace it, with a market value of £5.3bn. Other high-value stocks in the FTSE 250 are DCC, at £5.1bn, Derwent London, £4.2bn, and Rexam, £4.0bn.
Morrisons is one of four FTSE-100 companies with a market capitalisation below £4bn, with the supermarket group currently valued at £3.6bn.
 
Morrisons share price, November 2012 – November 2015: 
 
Its shares closed last night at 152p, having fallen by 30% since its year-high in March when the company was valued at more than £5bn.
The FTSE committee will meet on Wednesday, December 2 to decide on changes to the make-up of the leading share indexes. Being outside the FTSE 100 can affect the attitude of certain institutional investors.

 

Close