Intu in £50m share purchase as it falls to the FTSE250

Intu Properties has announced that deputy chairman John Whittaker has decided to spend £50m on shares as it is to fall to the FTSE 250 (release).

Deputy news editor Marion Dakers:
Intu, formerly known as Capital Shopping Centres, will be demoted from the FTSE 100 next week. John Whittaker is one of the firm's biggest investors with 19.86 per cent of the firm's ordinary shares after today's purchase.