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Morrisons soars | Capita disposal | FTSE 100 above 7,000
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4.30pm: Morrisons lifts market
Equities were lifted by bid interest in Morrisons which soared 61.55p (34.49%) to 239.9p, just above the price proposed by Clayton Dubilier & Rice on Friday.
Others in the sector rose sharply. Sainsbury’s was up 10.60p (4.08%) and Ocado was 79.50p (4.23%) higher.
AJ Bell investment director Russ Mould. said: “Strategically Morrisons has cemented an important relationship as a key supplier and partner to Amazon, and to McColls convenience stores. It has also established a successful online delivery service.
“Morrisons’ balance sheet has plenty of asset backing and the valuation was relatively depressed before news of private equity interest.