Morrisons report drives share price up six per cent

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MORRISONS set the pace in the FTSE 100 Index yesterday amid speculation that the Bradford retailer is lining up some much-needed cheer for shareholders.

The chain, which last week posted a poor Christmas trading update, is reportedly planning an £800m raid on its property estate as it looks at ways of building up a cash pile that can be returned to investors.

Last night shares closed up 6 per cent at 251.30p.