United shares rally despite rumours

Manchester United's shares rallied on the NYSE despite defeat in the Champions League and rumours over David Moyes' future.

Last Updated: 27/02/14 at 08:20 Post Comment

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David Moyes: Position at Manchester Unit

David Moyes: Position at Manchester Unit

Manchester United's shares rallied on the New York Stock Exchange despite the club's disappointing defeat in the Champions League and rumours over David Moyes' future.

United's 2-0 defeat at Olympiacos leaves an uphill task to reach the quarter-finals but pessimism did not extend to the stock market.

There was an initial drop in the share price when the market opened but it soon rallied and finally closed on Thursday 33 cents up at 14.98 US dollars.

The day's trading followed rumours, which proved to be false, that there would be an imminent announcement on the New York Stock Exchange about the future of United manager Moyes.

The club were baffled by the reports that their manager was set to leave his position - United have always insisted Moyes will be given time to prove that he is the right man to maintain the success delivered by predecessor Sir Alex Ferguson.

Moyes admitted after the Olympiacos match that he could barely identify one of his players who deserved praise.

"You could hardly pick anybody out. We just didn't perform," the Scot said.

Robin van Persie, speaking to Dutch broadcaster NOS after the match, admitted his frustration at the team's lack of consistency.

"We all have to work at it," the former Arsenal striker said. "In some games we do play well but in others we do not. We have not had luck at times.

"I am not going to point the finger at anybody. We need to try and turn it around and we need to take our chances."


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