// Morrisons likely to drop out of FTSE 100 for first time in 5 years
// The supermarket chain will be relegated to the FTSE 250
// Morrisons is expected to be replaced by engineering company Weir Group
Morrisons is reportedly expected to drop out of the FTSE 100 for the first time in five years as post-Covid grocery sales will likely slow down.
The quarterly reshuffle of the UK’s blue-chip stocks index is likely to result in the supermarket chain being relegated to the FTSE 250.
Meanwhile, the newly listed footwear retailer Dr Martens is expected to make an entry into the mid-cap 250 rankings, The Guardian reported.
The Big 4 grocer is expected to be replaced by engineering company Weir Group.
Dr Martens will become one of the largest FTSE 250 members.
The company – which is identified with a “DOCS” ticker since it listed in late January – was worth £4.82 billion on Tuesday.
Dr Martens narrowly missed out on inclusion on the FTSE 100, after Renishaw’s share price surged on Tuesday when the engineering company in effect put itself up for sale.