Morrisons is reportedly set to fall out of the FTSE 100 for the first time in half a decade, according to The Guardian.
Retail analysts predict that the public’s overspending on groceries, resulting from consumer shifts during the pandemic, will begin to wane in the coming months.
With the quarterly reshuffle of the UK’s blue-chip stocks index, the supermarket chain is likely to drop into the FTSE 250, alongside South West Water and Pennon Group.
Weir Group, an engineering company, is set to replace Morrisons within the rankings of the FTSE 100.
The news will come as a blow to the grocery retailer, with regulation likely to lead to significant turnover in shares as investors who follow indices are obliged to adjust their portfolios.
However, shoe retailer Dr. Martens is expected to join Morrisons in the mid-cap rankings of FTSE 250 for the first time, on the heels of becoming a newly listed company.