Royal Mail Joins FTSE 100, Foxtons Joins FTSE 250

UPDATE: The quarterly review of the FTSE will see some hot names join the blue-chip and mid-cap indices, while a couple of mining companies feel the heat

Holly Cook 11 December, 2013 | 6:46PM

Updating with analyst comment on Schroder Asia Pacific.

The FTSE Group's quarterly review will see Royal Mail (RMG) and Ashtead Group (AHT) promoted to the FTSE 100 from next Friday, while Croda International (CRDA) and Vedanta Resources (VED) drop down to the FTSE 250. 

Joining the UK mid-cap index are Carphone Warehouse (CPW), Foxtons (FOXT), Grafton (GFTU), JD Sports Fashion (JD.), Merlin Entertainments (MERL) and investment trust Riverstone Energy (RSE). These additions will take place on December 20 and will force the demotion of Carpetright (CPR), Chemring (CHG), Dialight (DIA), Greggs (GRG), Hochschild Mining (HOC), John Menzies (MNZS) and Schroder Asia Pacific Fund (SDP).

For the latter, investment trust Schroder Asia Pacific, the immediate likely impact is a widening of the discount as tracker funds sell out and there is excess supply of shares in the market, said Morningstar director of closed-end fund research Jackie Beard. "If performance is strong then the discount effect should be short-lived as savvy investors will take the opportunity to top up their holdings," Beard added. The trust is rated Silver by Morningstar analysts.  

The changes announced this Wednesday will take effect after the market close on Friday December 20, and will take effect from the start of trading on Monday December 23.

The FTSE 100 Index will see the following changes (in alphabetical order): 

Entering FTSE 100 Index

Exiting FTSE 100 Index

Ashtead Group

Royal Mail Group

Croda International

Vedanta Resources

The FTSE 250 Index will see the following changes (in alphabetical order): 

Entering FTSE 250 Index

Exiting FTSE 250 Index

Carphone Warehouse Group

Foxtons Group

Grafton Group

JD Sports Fashion

Merlin Entertainments

Riverstone Energy

 

Carpetright

Chemring Group

Dialight

Greggs

Hochschild Mining

John Menzies

Schroder Asia Pacific Fund

 

 

 

 

 

 

 

 

 

 

FTSE operates a reserve list for the FTSE 100, which it resorts to in the event of a corporate action occurring between reviews, such as a merger, delisting or suspension. In such cases, the FTSE 250 constituent with the largest market capitalisation replace the outgoing FTSE 100 listing. The new reserve list for the FTSE 100 with immediate effect is: 

- 3i Group (III)

- Berkeley Group Holdings (BKG)

- Direct Line Insurance Group (DLG)

- Inmarsat (ISAT)

- Merlin Entertainments

- Taylor Wimpey (TW.

All changes from this review will be implemented at the close of business Friday, 20 December 2013 and take effect from the start of trading on Monday, 23 December 2013.

The information contained within is for educational and informational purposes ONLY. It is not intended nor should it be considered an invitation or inducement to buy or sell a security or securities noted within nor should it be viewed as a communication intended to persuade or incite you to buy or sell security or securities noted within. Any commentary provided is the opinion of the author and should not be considered a personalised recommendation. The information contained within should not be a person's sole basis for making an investment decision. Please contact your financial professional before making an investment decision.

Securities Mentioned in Article

Security NamePriceChange (%)Morningstar
Rating
3i Ord1,111.00 GBX-0.22
Ashtead Group PLC2,189.62 GBX0.03
Berkeley Group Holdings (The) PLC3,766.00 GBX-1.65
Carpetright PLC15.53 GBX0.54
Carphone Warehouse Group PLC119.70 GBX0.50
Chemring Group PLC185.09 GBX1.70
Croda International PLC4,838.00 GBX0.37
Dialight PLC293.00 GBX0.34
Direct Line Insurance Group PLC333.80 GBX-0.74
Foxtons Group PLC60.34 GBX-0.27
Grafton Group PLC GBP750.50 GBX0.13
Greggs PLC2,472.00 GBX0.98
Hochschild Mining PLC210.14 GBX2.41
Inmarsat PLC558.65 GBX-0.53
JD Sports Fashion PLC611.80 GBX0.03
Menzies (John) PLC418.50 GBX0.12
Merlin Entertainments PLC449.60 GBX-0.09
Riverstone Energy Ord853.60 GBX0.42
Royal Mail PLC218.90 GBX1.30
Schroder Asia Pacific Ord469.08 GBX0.23
Taylor Wimpey PLC164.51 GBX-0.24
Vedanta Resources PLC  

About Author

Holly Cook

Holly Cook  is Managing Editor of Morningstar.co.uk

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