Bradford-based supermarket chain Morrisons posted record trading figures over the Christmas period.

And the healthy figures impressed share traders, with shares rising more than six pence in early trading to stand at 187p, a rise of three and a half per cent.

The boost was in sharp contrast to other retailers who saw their shares fall despite posting profitable Christmas results.

Share traders reacted sharply to a clutch of Christmas updates with out of town discount retailer Matalan being particularly hard hit.

Total sales in the period for Morrisons, including new stores, were 16.7 per cent higher than last year.

Like-for-like sales in the five weeks ending January 7, 2001, were eight per cent above last year.

Even after allowing for a 31.8 per cent increase in petrol sales, the stores' like-for-like increase for Christmas 2000 was a robust 5.5 per cent.

Trading in the week to Christmas Eve "easily surpassed previous records", despite the fact the group was up against strong results from last year which saw the run-up to the Millennium celebrations Morrisons said.

And the company was the only major food retailer to close its stores for four days this year - three days over Christmas, plus New Year's day.

The company claims its trading performance continues to be one of the best in the industry. With only four weeks left to the end of the financial year, total takings are 15.9 per cent higher than the equivalent 49-week period last year.