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It does not have much of an intraday trading range. Seems stuck at lower end of range. One day it will pop. Rotation will come back to retail.
Prelims on 11th March. Ex dividend on 11th May. Plenty of upside potential and am content ahead of results.
Results, dividend, Amazon, market share. Certainly has all the prospects near term.
we seem to have broken away from the 170, somethjing was holding it
The share price will already reflect this.
Takeover rumours resurfaced in Times article "Don’t stop to pay in Amazon’s first store".
Some MRW mentions.
"The first UK store will offer about 10,000 products from well-known brands and ranges from its grocery partners Morrisons and Booths."
"However, Black and many others believe that the Go store is just an opening gambit from Amazon and could lead to a takeover of a British supermarket. Unlike in the US, where the grocery market is highly fragmented by States, it would only take one swoop on a supermarket to significantly increase its grip n the UK market. Bradford-based Morrisons remains the most obvious takeover target due to its existing partnership with Amazon as it supplies groceries for its Prime app already. After falling out of the FTSE 100 this week it is also the smallest and more affordable of the Big Four grocers, could still give it national clout."
"The other takeover option would be Sainsbury’s, which is in the early days of new boss Simon Robert’s journey to spark life into the business after its failed merger with Asda."
"The online retailer has proved time and again that it is committed to UK groceries by strengthening its partnership with Morrisons, launching free food deliveries to Prime members last year and taking a sizeable stake in Deliveroo. "
hopefully the same day the FTSE 250 tracker funds start buying it.
Officially relegated on March 22nd, so when do the FTSE100 tracker funds sell? presumably on or after the date?
I'm not too concerned about which index Morrisons is in, but I am very interested in the fact that Amazon has just opened its first UK "no checkout" physical grocery store. If they decide to go full scale with the concept, they're going to need retail locations all over the UK and just about all of the good ones for groceries and supermarkets are already taken by one of the chains. So it will probably be a takeover, joint venture, or some other arrangement with an existing chain. Amazon already has a good working relationship with Morrisons and Morrisons is the right size, so it would certainly be one of the main candidates. I wouldn't be surprised to see the takeover rumours start up again after laying dormant for the last year or two.
no affect today
Morrisons
Morrisons has been on the edge of relegation for a while and today slipped into the FTSE 250 as the supermarket has struggled to capitalise on the shift to digital sales.
It means that Morrisons faces its second spell out of FTSE – the last time was in 2016.
However, the supermarket underdog has delivered a 13.9 per cent rise in sales over the last three months and has converted 300 McColls convenience stories into Morrison Daily stores.
This could boost revenues in the future and Morrisons has a historical record of climbing back into the FTSE 100 quite quickly.
dont think this is the end of the world this is so cheap at the moment
Sorry chaps. Apparently, relegation will be based on Tuesdays market cap and unfortunately Morrisons were on 111th yesterday which means they are definitely getting relegated which will be confirmed after market close today..
Getting there.. FTSE going down... MRW trying to recover... Market cap levelled for both MRW and FCIT at 4.10B.. Its going to be very interesting now!
I think the dividend overall reduction, possible windfall tax and recent market movements have hit this slightly more than expected. If you want to add more, falling out of the index and the trackers selling might be a blessing in disguise.
I suspect as covid becomes a non issue things will improve due to less costs and being able to bring back a special. Windfall tax will be a know unknown later to day
Still closing very close market cap range with FCIT! MRW at 4.11B & FCIT at 4.13B... If MRW closes above 173p, there will be some hope to stay on FTSE100..
MRW last exited on Dec 2 2015 at a price of 151p. Shortly after It sank to a low of 139p. Within 3 months it was over 200p and back in the index assisted by the announcement in late Feb of a tie up with Amazon.
The quarterly review of the components of the FTSE is today and MRW is currently in 111th position, meaning automatic expulsion from the index if it's still there at today's close. Which will mean trackers etc will no longer have to own MRW. Usually seems to make less difference than might be expected.