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Man Utd shares rise after Moyes axe

Manchester United's share price climbed by one per cent immediately after the New York Stock Exchange opened following the news that manager David Moyes had been sacked.

The shares had slumped in value on Monday when reports started surfacing that Moyes was set to be axed.

But the official confirmation of his departure was followed by a spike in share price up 27 cents from 17.72 US dollars to 17.99 dollars in the first 20 minutes of trading.

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