Ophir storms into FTSE 250

Ophir Energy, a Lakshmi Mittal-backed oil exploration group, has stormed into the FTSE 250 following the reshuffle of the index, two months after its successful IPO. It is joined by fellow new entrants to the FTSE index Cape, the industrial services group, and engineering firm Kentz. Four firms were promoted from the FTSE small cap index yesterday: manufacturing firm Oxford Instruments, wind turbine designer Hansen, support services group Interserve and public services network KCOM Group. Dropping out of the 250 index are JKX Oil & Gas , Fidelity Special Values, the recently de-merged Spirit Pub Company, Kofax, St Modwen, Keller and Enterprise Inns. Bumi, which some analysts had tipped for a FTSE 100 placing, had a big enough market capitalisation for the 250 index but failed a liquidity test.