Main Menu

Morrison bags a good deal with Amazon

MorrisonsMon close: WM Morrison was a major feature following its supply agreement with Amazon which has injected a new dynamic into the groceries sector.

 

Investors bought into the mid-cap Yorkshire-based chain’s deal, pushing its shares 5.9% higher.

One analyst said it was “good news for the UK’s 4th biggest supermarket”, while another said it would turn erstwhile Goliath Tesco into David. Tesco’s shares fell on concerns about the increasing competition.

The FTSE 100 closed up 1.1 points at 6,097.09 on better news on China where the central bank acted on bank reserves to help revive the economy. The FTSE had its first monthly gain since October.

 

Share The News Tweet about this on TwitterShare on FacebookShare on Google+Email this to someoneShare on LinkedIn





Leave a Reply

Your email address will not be published. Required fields are marked as *

*