(MENAFN- ProactiveInvestors) Shares in () topped the FTSE 100 leader board early on after the grocer said goodbye to its chief executive Dalton Philips.
The change at the top comes after Christmas trading figures from the supermarket which fell 5.2% in the six weeks to 4 January.
Philips’ departure seems to have proved popular with traders as Morrison shares advanced 5% in early deals while rivals () and ’s () are also benefitting .
Overall the supermarkets helped the FTSE 100 to add 36 points to 6537.
() the owner of British Gas was boosted by an upgrade from .
House builders () () and () all advanced.
Oil stocks lost out again as Brent crude slipped to US$45 a barrel – () Shell () and () suffered.
Updates from () and (LON:) meant it was a busy morning for the retail sector. shares took a 8% hit after as it cautioned margins had been affected over the Christmas period by clothing problems and more beauty products. AIM-listed meanwhile climbed 6% higher as it saw sales recover in the run-up to Christmas on the back of a strong UK trading performance. Investors tucked into () shares after the hot snacks and sandwiches seller revealed its produce sold like hot cakes over Christmas. Shares in () advanced 8% as it said third quarter figures were in line with its expectations. Elsewhere iodine and natural gas explorer () climbed 5% higher as it said crystalline iodine production was up 90% last year as it predicted 2015 would be “exceptional".
Legal Disclaimer:
MENAFN provides the information “as is” without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the provider above.