FTSE 100 movers: Morrison boosted after axing CEO as grocers dominate risers

The share price of supermarket group Wm Morrison jumped 5% on Tuesday following the news that chief executive Dalton Philips has been axed after the company delivered the worst Christmas performance of the Big Four.

Like-for-like (LFL) sales excluding fuel fell 3.1% in the six weeks to 4 January. However, this was better than the 3.8% decline analysts had predicted, albeit considerably worse than the 0.3% decline at Tesco and Sainsbury's 1.7% slide.

Industry data from Kantar also showed that increased consumer spending over Christmas helped the grocery market grow at its fastest rate since August 2014 with Sainsbury's performing the best out of the Big Four. Sainsbury's and Tesco were putting in decent gains on Tuesday afternoon.

Oil and gas stocks remained under pressure after Brent crude settled below the $50-a-barrel mark for the first time in almost six years on Monday. Tullow was the heaviest faller as Brent fell a further 2.6% to $46.19 a barrel on Tuesday.

International Consolidated Airlines Group was among the risers as falling oil prices boosted hopes of reduced fuel costs for the travel company.

Mining stocks Antofagasta and Glencore were both weaker as the mining sector weakened.

Risers

Centrica (CNA) 273.80p +4.90%

Morrison (Wm) Supermarkets (MRW) 185.40p +4.80%

Sainsbury (J) (SBRY) 250.60p +4.29%

Tesco (TSCO) 212.00p +3.64%

International Consolidated Airlines Group SA (CDI) (IAG) 484.20p +3.17%

Sports Direct International (SPD) 716.00p +3.17%

Coca-Cola HBC AG (CDI) (CCH) 1,159.00p +3.02%

ITV (ITV) 218.90p +3.01%

Marks & Spencer Group (MKS) 461.50p +2.94%

Admiral Group (ADM) 1,408.00p +2.92%

Fallers

Tullow Oil (TLW) 368.40p -4.78%

Ashtead Group (AHT) 1,077.00p -3.58%

Glencore (GLEN) 270.40p -3.24%

Antofagasta (ANTO) 706.00p -2.96%

Weir Group (WEIR) 1,677.00p -2.67%

Smith & Nephew (SN.) 1,154.00p -2.20%

ARM Holdings (ARM) 979.50p -1.85%

Shire Plc (SHP) 4,635.00p -1.40%

Sage Group (SGE) 459.90p -1.10%

Aberdeen Asset Management (ADN) 413.10p -1.05%