Wednesday 1 June 2016 8:37 pm

Hikma Pharmaceuticals replaces Inmarsat in FTSE 100 index

Hikma Pharmaceuticals is set to enter the FTSE 100 index as satellite firm Inmarsat drops to the FTSE 250.

The changes will take effect on June 20, London Stock Exchange said today. 

Hikma Pharmaceuticals's promotion to Britain's blue chip index comes after its shares surged 45 per cent since mid-March. The company expects its full year group revenue to be between $2bn (£1.3bn) and $2.1bn (£1.4bn). 

Read more: The anatomy of a FTSE 100 chief executive

Inmarsat, on the other hand, has seen its shares fall 37 per cent since early February amid tough trading conditions in its maritime and government markets businesses. 

Other companies entering FTSE 250 index include Metro Bank, Countryside Properties, Hill & Smith Holdings, Smurfit Kappa Group and Ascential among others.

Meanwhile, companies relegated from the FTSE 250 include Highbridge Multi-Strategy Fund, Interserve, Jimmy Choo, Lookers, Melrose Industries, Northgate and Ophir Energy.