SPORT

David Moyes' Sacking Sees Man U Share Price Hit Post Alex Ferguson Peak

22/04/2014 17:41 BST | Updated 22/04/2014 17:59 BST
PAUL ELLIS via Getty Images
Liverpool, UNITED KINGDOM: David Moyes, manager of Everton (L) and Manchester United manager Sir Alex Ferguson watch their teams during their English Premiership football match at Goodison Park, Liverpool, north west England, 28 April 2007. AFP PHOTO/PAUL ELLIS - Mobile and website uses of domestic English football pictures subject to subscription of a licence with Football Association Premier League (FAPL) tel: +44 207 298 1656. For newspapers where the football content of the printed and electronic versions are identical, no licence is necessary. (Photo credit should read PAUL ELLIS/AFP/Getty Images)

David Moyes' sacking as Manchester United's manager has sent the football club's share price to its highest level since Moyes' predecessor Alex Ferguson retired.

The club, who are listed on the New York Stock Exchange, saw their share price rise to $18.10 a share, a bump from the $17.47 low on Monday as rumours emerged of Moyes' impending sacking.

The previous peak for Manchester United was in last May, when news of Ferguson's retirement sparked a stock market slump.

"The club would like to place on record its thanks for the hard work, honesty and integrity he brought to the role," Manchester United said in a brief statement,

Ryan Giggs has been unveiled as Moyes' interim successor, as he will manage the team until the end of the season.

Moyes was confirmed as Ferguson's successor on 9 May, just a day after his predecessor announced his retirement, having managed Everton for 11 years, and he survived in the post for 11 months.

Selected personally by Ferguson to replace him, Moyes has broken several unwanted records despite inheriting a title-winning squad and spending £64.6 million on Marouane Fellaini and Juan Mata.

David Moyes looking lost