FTSE reshuffle promotes UK’s new listed firms

Michael Bow
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SIX NEWLY-LISTED companies,including Just Eat and AO World, are set to join the ranks of the FTSE 250 index as part of the index’s quarterly reshuffle.

The overhaul is a sign of the radical reshaping of the investment landscape sparked by this year’s stock market stampede.

The two stocks will join Pets at Home, Poundland, Brit Insurance and Kennedy Wilson Europe Real Estate in being promoted to the index, which ranks the UK’s 250 biggest companies.

All of the firms joining the index are ones that have floated over the past six months.

The biggest loser is set to be Partnership Insurance, the enhanced annuity provider, which is on course to be relegated from the FTSE 250 to the Small Cap index.

It follows a dramatic share price slide for the firm – which only joined the index in September after floating in June 2013 – after Chancellor George Osborne unveiled plans in his March Budget to outlaw the need to purchase an annuity at retirement. Murray Income Trust, Merchants Trust, Herald Investment Trust, KCOM Group and 888 Holdings are also in line for relegation to the Small Cap index.

Private equity group 3i, the oldest buyout business in the UK, is set to join the FTSE 100 index alongside Intu Properties, at the expense of William Hill and Melrose Industries.

The final decision and approval of changes will be taken by the FTSE EMEA Committee today, using last night’s closing prices. The reshuffle is subject to the final decision and approval of the committee.

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