Morrisons shares soar as supermarket stocks push FTSE 100 to record high

CITY analysts have rallied behind the turnaround of Morrisons after the group’s share price soared yesterday and contributed to the FTSE 100 hitting an all time high.

Following the retailer's announcement that it enjoyed its best Christmas trading period for seven years, the supermarket stormed ahead of City predictions, prompting its shares to rise by 9p to 246.5p in mid-morning trading before closing at 246p, up 3.62%, giving a market capitalisation of £5.72bn.

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