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Morrisons facing FTSE100 demotion

Dalton PhilipsSupermarket chain Morrisons is likely to be relegated from the FTSE100 after close of tomorrow’s session (2 June).

It will be the only one of the big listed grocers not to be in the leading index.

The chain, whose share price has fallen more than 15% in a year, looks to be heading to the FTSE250 following a difficult year culminating in the exit of chief executive Dalton Philips (pictured).
Satellite network operator Inmarsat is expected to replace Morrisons. The FTSE EMEA committee meets on Wednesday (3 June) to make a decision.
The company is expected to face a hostile reception from shareholders at the annual general meeting on Thursday.
Other potential fallers include banknote maker De La Rue. Likely risers are challenger bank Aldermore; recently listed Auto Trader Group, B&M European Value Retail; John Laing Group, Onesavings Bank, Shawbook Group and the Woodford Patient Capital Trust. 
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