FTSE Group (“FTSE”) confirms today that Barratt Developments and St. James’s Place will be joining the FTSE 100 Index. In the rebalance, Amec and Tate and Lyle will leave the UK’s leading index and enter the FTSE 250 Index.
The changes announced today are part of the impartial quarterly reviews approved by the independent FTSE Europe, Middle East and Africa Regional (EMEA) Advisory Committee. The rules-driven reviews ensure the indices continue to portray an accurate reflection of the market they represent, and form an essential component to the management of the indices.
The FTSE 250 Index will see the following changes (in alphabetical order), in addition to the amendments described above:
Entering FTSE 250 Index |
Exiting FTSE 250 Index |
Heritage Oil Infinis Energy Just Retirement Group
|
Devro Edinburgh Dragon Trust Kenmare Resources
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FTSE operates a reserve list for the FTSE 100 Index, to be used in the event of a corporate action occurring between reviews e.g. merger, acquisition, delisting or suspension. In such cases, the reserve list constituent with the largest market capitalisation (on the date of the corporate action) will replace the outgoing constituent. With immediate effect, the following reserve list for FTSE 100 will be used (in alphabetical order):
- 3i Group
- Berkeley Group Holdings
- Direct Line Insurance Group
- Merlin Entertainments
- Ocado Group
- Taylor Wimpey
As announced in October 2013, FTSE has extended the implementation notice period for the FTSE UK Index Series from T+7 to T+12, to provide clients a longer notice period to prepare for the trades involved following each review. All changes from this review will be implemented at the close of business Friday, 21 March 2014 and take effect from the start of trading on Monday, 24 March 2014.