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M&S, Direct Line and Micro Focus to drop out of FTSE 100 on September 23

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09/04/2019 | 01:03pm EST
File photo of clothes displayed on hangers in an Marks & Spencer shop in northwest London

LONDON (Reuters) - Marks & Spencer, Direct Line and Micro Focus will be relegated from London's FTSE 100 <.FTSE> index from Sept. 23 following the latest quarterly review, the index operator FTSE Russell said on Wednesday.

The demotions were widely expected based on the recent closing prices of the stocks that saw them ranked at 111 or lower.

The London Stock Exchange-owned FTSE Russell requires companies to be at least 110 to be part of the blue-chip index.

This is the first time M&S, the 135-year old retailer, has been booted from the FTSE 100 since the index's inception in 1984 and follows a steady decline in its share price amid stiff competition in clothing and food on the UK's shrinking high street.

As expected, precious metals mining firm Polymetal, generic drugmaker Hikma and aerospace and defence group Meggitt will replace them, FTSE Russell said. They have all been in the top 100 index before.

The following stocks will enter or leave the FTSE 250 <.FTMC>:

PROMOTION:

Airtel Africa

Finablr

Foresight Solar Fund

Sirius Real Estate

Trainline

Watches of Switzerland Group

DEMOTION:

Amigo Holdings

Funding Circle Holdings

Intu Properties

Metro Bank

Ted Baker

Woodford Patient Capital Trust

(Reporting by Josephine Mason; Editing by Mark Potter)

Stocks mentioned in the article
ChangeLast1st jan.
AIRTEL AFRICA PLC 1.53% 69.9 Delayed Quote.-12.57%
AMIGO HOLDINGS PLC 0.44% 67.9 Delayed Quote.2.26%
DIRECT LINE INSURANCE GROUP PLC 1.03% 334.8 Delayed Quote.7.14%
DOW JONES AFRICA TITANS 50 INDEX 0.01% 539.67 Delayed Quote.0.45%
FINABLR PLC 3.05% 135 Delayed Quote.-19.95%
FORESIGHT SOLAR FUND LIMITED 0.00% 122 Delayed Quote.-3.17%
FTSE 100 INDEX 0.28% 7234.11 End-of-day quote.0.00%
FUNDING CIRCLE HOLDINGS PLC -3.04% 92.4 Delayed Quote.5.72%
HIKMA PHARMACEUTICALS PLC 2.36% 1955.5 Delayed Quote.-1.78%
INTU PROPERTIES PLC -0.61% 22.86 Delayed Quote.-32.76%
MARKS & SPENCER GROUP PLC 1.60% 187.05 Delayed Quote.-12.39%
MEGGITT PLC 0.55% 697.4 Delayed Quote.6.18%
METRO BANK PLC 0.30% 200.6 Delayed Quote.-2.72%
METRO INC. -0.26% 54.47 Delayed Quote.1.90%
MICRO FOCUS INTERNATIONAL PLC 0.00%End-of-day quote.0.00%
POLYMETAL INTERNATIONAL 1.05% 1249 Delayed Quote.4.52%
S&P AFRICA 40 INDEX -0.42% 168.38 Delayed Quote.-2.12%
SCHRODER UK PUBLIC PRIVATE TRUST PLC -1.19% 33.15 Delayed Quote.-13.56%
SIRIUS REAL ESTATE LIMITED 0.05% 0.996 Delayed Quote.0.00%
TED BAKER PLC 0.30% 332.2 Delayed Quote.-18.58%
WATCHES OF SWITZERLAND GROUP PLC -2.71% 380.2 Delayed Quote.3.09%
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