Shares in supermarket group Morrisons rose by 2.1% to 262p yesterday, following reports that chairman Sir Ken Morrison was reviewing options for his 10% stake and bullish comments from a leading broker.

Citigroup said plans by Morrison to sell a portfolio of 25 shopping centres were unlikely to have been affected by the recent turmoil in global stock markets.

Analysts believe that proceeds from the sale could total £1bn and allow Morrison to launch a share buy-back.

Traders said Morrisons had also been supported by bargain-hunting.