Morrisons is expected to drop out of the FTSE 100 for the first time in five years given the likely slowdown in post-Covid grocery sales.
According to The Guardian, the UK’s blue-chip stocks index’s quarterly rearrangement will likely result in the supermarket chain being relegated to the FTSE 250.
Engineering company Weir Group is expected to replace the Big 4 grocer.
READ MORE: Morrisons acquire Cornish sustainable seafood supplier Falfish
Meanwhile, footwear retailer Dr Martens is expected to enter into the mid-cap 250 rankings.
The company that is identified with the “DOCS” ticker since it was listed in late January was worth £4.82 billion and will become one of the largest FTSE 250 members.
Dr Martens narrowly missed out on inclusion on the FTSE 100 after engineering company Renishaw’s share price surged on Tuesday.
