Morrisons set for FTSE 100 return, Sports Direct in line for demotion

1st Mar 2016 15:19

(ShareCast News) - Morrisons, which announced a new grocery supply deal with Amazon.com on Monday, may work its way back into the FTSE 100 this month.The supermarket retailer, which was booted out at the last quarterly review, could be joined by newly-merged Paddy Power Betfair and private hospital group Mediclinic, which recently completed a merger with Al Noor Hospitals.They would likely replace Sports Direct, Aberdeen Asset Management and Hikma Pharmaceuticals.Shares in Sports Direct tumbled in January after the retailer said it was no longer confident of meeting its adjusted underlying core earnings target for the full year due to deteriorating trading conditions on the high street and unseasonal weather over Christmas.The profit warning came just a month after a damning report in the Guardian revealed - among other things - that many of the company's warehouse staff were being paid an effective rate of about £6.50 an hour against the statutory rate of £6.70.Aberdeen, meanwhile, has been hit by a slowdown in emerging markets.The results of the latest FTSE review will be announced on Wednesday and will become effective from 21 March, based on Tuesday's closing prices.