Allied Gold wins FTSE place

Pacific-focused mining group Allied Gold is set to enter the FTSE SmallCap index later this month after the FTSE changed its mind about the firm’s eligibility under share liquidity rules. Allied Gold, which has a market cap of almost £400m, will also join the FTSE 250 reserve list from 19 September. A spokesperson for FTSE said the original failed liquidity test on Allied Gold shares in June was affected by trading issues, which were not present during a later examination of the stock. Allied Gold started trading on London’s main market on 30 June, after being promoted from the junior Alternative Investment Market.