Morrison is to be dropped from the FTSE 100, the UK’s top listed companies, after 14 years.
The news comes after the supermarket reported a 47% slump in profits for the half year amidst a fierce price war between the ‘big four’ grocers along with the fast-growing discounters Aldi and Lidl. It means that the group will now trade in the FTSE 250 listing, making it less attractive to investors and leaving only Tesco and Sainsbury’s in the top list as Asda is owned by American grocery giant Walmart.
