TUI exits blue chip index in FTSE reshuffle
TRAVEL company TUI Travel will leave the FTSE 100 index on 20 June as part of the latest quarterly reshuffle of British indices.
Food ingredients maker Tate & Lyle will be promoted from the FTSE 250 index as a replacement, re-entering the blue chip index for the first time since March 2009.
TUI Travel shares have fallen around six per cent over the past quarter, underperforming a two per cent decline by the FTSE 100 index, amid concern over the impact of unrest in key holiday destinations Egypt and Tunisia, high fuel costs and disruption from further volcanic activity.
Tate & Lyle have seen a near 18 per cent rise since the previous quarterly review this March, far outperforming a two per cent rise by the FTSE 250 index.
The review was based on closing share prices on Tuesday but the changes had to be confirmed by a FTSE committee meeting yesterday.