sport

United shares rally from loss

Manchester United's share price remained steady on Wednesday after a day of rumours concerning manager David Moyes.

United's 2-0 defeat by Olympiakos in the Champions League on Tuesday led to plenty of conjecture about Moyes' future, with one rumour suggesting he had already left Old Trafford after less than one season.

There was an initial drop in their share price on the New York Stock Exchange when the market opened but it soon rallied and ended the day 30 cents up at $14.95.

The rumours about Moyes seemed to emanate from the financial world with widespread talk an announcement would be made to the NYSE when trading opened.

But United were reported to be 'baffled' by the comments and have always made it clear Moyes will be given time to prove he is the right man to replace the legendary Sir Alex Ferguson.

A plunge on Moyes becoming the next Premier League manager to leave his post also occurred on Wednesday, the second Wednesday shake-up in that market after earlier rumours that Pepe Mel was about to leave his post at West Brom after only a couple of months.