Shareholder sells off a large block of the supermarket group's shares

Shareholder sells off a large block of the supermarket group's shares

Just less than one per cent of WM Morrison shares - 23.06 million - were sold at 174p a share, resulting in the equity market struggling to digest the large trade. City analysts had already cut £300 million from full-year profit forecasts for the supermarket group after last month’s surprise profit warning, because of poor trading results from Safeway stores, lost supplier rebates and further price-cutting.

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