THURSDAY MARKET CLOSE: Investors check out from Morrisons

By The Newsroom
Published 7th May 2015, 20:03 BST
The retailer saw shares drop 6.55 per cent. Picture: PAThe retailer saw shares drop 6.55 per cent. Picture: PA
The retailer saw shares drop 6.55 per cent. Picture: PA
CONTINUING falls in sales hit shares in supermarket chain Morrisons hard as the wider market also suffered from election jitters.

The Yorkshire-based retailer saw shares drop 6.55 per cent, or 12.4p, to close at 176.9p as analysts highlighted the scale of the challenge facing new chief executive David Potts.

The FTSE 100 index fell sharply as voters headed to the polls but recovered some its losses by the session close. London’s top-flight tumbled more than 100 points at one point before closing 46.79 points down at 6,886.95.

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Jasper Lawler, of CMC Markets, said: “Election day uncertainty has created hesitancy in markets rather than outright fear of the unknown. There’s hardly been a tidal wave of selling but seemingly an unwillingness to jump in with two feet to any stocks until the election result is known.”