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FTSE Group confirms today that Bradford & Bingley will leave the FTSE 100 and be replaced by Barratt Developments. Bradford & Bingley leaves the FTSE 100 after rejoining in September 2006.
In the mid cap FTSE 250 index, new listings Sports Direct International and business processing company Xchanging enter, while Domestic & General Group and ITE Group move up from the FTSE SmallCap to the FTSE 250. This means Woolworths Group, Helical Bar, Dunelm Group and Computacenter leave the FTSE 250 and go into the FTSE SmallCap.
Eurotunnel will not move from the FTSE SmallCap to the FTSE 250 as it is to be deleted from the FTSE UK indices before the changes approved at the review are implemented.
The changes to the indices are to take place following FTSE’s UK index series quarterly review, which is carried out by the independent FTSE Europe, Middle East and Africa regional committee. The regular index reviews ensure the indices remain an accurate reflection of the market they represent - essential as they form the basis of many pension funds and investment portfolios.
The FTSE 100 reserve list to be used in between index reviews will contain Rentokil Initial, Invensys, British Energy Group, Burberry Group, FirstGroup and London Stock Exchange Group. Reserve lists are created at each UK quarterly review, and contain the next six companies ranked in order of market capitalisation below the FTSE 100. Reserve lists are used in between index reviews in case of corporate actions or mergers which impact the index.
All changes from this review take effect from the start of trading on Monday 18th June.
