Morrisons likely to drop out of FTSE 100 as groceries boom wanes

Supermarket chain and South West Water owner likely to be replaced by engineers Weir Group and Renishaw

Morrisons is expected to drop out of the FTSE 100 for the first time in five years as analysts predict the groceries spending spree during the pandemic will wane.

The quarterly reshuffle of the UK’s blue-chip stocks index is likely to result in the supermarket chain being relegated to the FTSE 250, along with the owner of South West Water, Pennon Group, while the newly listed footwear brand Dr Martens is expected to stride into the mid-cap 250 rankings.

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