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Morrisons in danger of being relegated from FTSE 100

| International retailers

The dramatic fall in Morrisons’ fortunes was highlighted at the end of last week amid reports that the retailer is in danger of being relegated from the FTSE 100 list of the UK’s biggest companies. According to the Financial Mail on Sunday, Morrisons was just above the cut-off point for exclusion from the index when the market closed on Friday.

Amid falling sales and management changes, the retailer’s shares have almost halved in value over the last two years with its market capitalisation currently standing at around £3.9bn. As part of its quarterly review, the London Stock Exchange is expected to reveal today which company is on course to be promoted or excluded from the benchmark, depending on the latest market prices.

A final decision will be made next week ahead of Morrisons half-year results which are expected to show another big fall in profits despite recent signs the retailer’s performance is stabilising.

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