An unknown institution placed 33.6 million shares on the London Stock Exchange (LSE), valued at £62 million, resulting in a fall in the share price to 187.5p, the lowest since August 2003. Morrisons' shares were the most traded on the LSE as more than 100 million shares were exchanged, compared to the daily average of six million.

The seller is rumoured to be a city institution clearing all its holdings in the supermarket's shares.

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