Foreigners join FTSE 100

Steve Dinneen
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THE FTSE 100 will become even more multinational next week when up to three more foreign firms are promoted into the blue-chip index.

Indian oil and gas firm Essar Energy is a racing certainty to step into the prestigious list of the top 100 UK-listed firms by market capitalisation.

Gold miners African Barrick Gold and Petropavlovsk, the Russian firm previously known as Peter Hambro Mining, are also possibilities to join the list, according to Winterflood Securities.

Mining firms have led the charge of foreign firms pushing into the FTSE 100 since the late 1990s, with the likes of Kazakhmys, Vedanta Resources and Fresnillo all listed.

Firms that look set to drop out of the list include Thomas Cook and the London Stock Exchange.

Firms benefit from being included due to increased exposure.