FTSE reshuffle: Kingfisher, NMC Health and Tui booted out of top City index
Several embattled firms have been relegated from the FTSE 100 of listed companies as part of its quarterly review.
Screwfix owner Kingfisher, embattled firm NMC Health and holiday company Tui will be moved to the FTSE 250 index of companies.
In their place, miner Fresnillo, Intermediate Capital Group and Pennon Group will join the FTSE 100.
Listed firms in the FTSE 100 must be in the 110 largest companies on the London Stock Exchange’s Main Market to stay, while a company can be elevated from the 250 if it rises to the top 90 companies.
There have been a total of eleven changes to the FTSE 250.
NMC Health has lost two-thirds of its market value after its financial statements were questioned by US based shortseller Muddy Waters. Its woes have spilled onto other companies, tonight leaving Travelex owner Finablr with questions surrounding its corporate governance as the two share executives.
Meanwhile Tui’s performance has been undermined by continued grounding of the Boeing 737 MAX aircraft. This is despite benefiting from the collapse of rival operator Thomas Cook.
Tui share prices were down 3.69 per cent at close of trading, while NMC shares are currently suspended pending an investigation into the company’s books by the Financial Conduct Authority.
New entrants to the FTSE 250 included:
- Gamesys Group
- Biffa
- Chemring
- Petropavlovsk
- Impax Environmental Markets
- Forterra
- Hipgnosis Songs Funds
- XP Power
While those demoted from the FTSE 250 included:
- Hunting
- New River REIT
- Restaurant Group
- Tullow Oil
- 888 Holdings
- SIG
- Finablr
- Galliford Try