These Two Firms Are About to Fall Out of The FTSE 100 in the Reshuffle

One is a supermarket giant whose technology hasn't proven enough to convince investors. The other is an under-fire wealth manager

Alliance News 29 May, 2024 | 8:17AM
Facebook Twitter LinkedIn

Ocado Distribution Website UK Main

Ocado Group's (OCDO) stint in the FTSE 100 is set to end, with technology firm Darktrace (DARK) set to replace it in the top flight, according to indicative index changes by FTSE Russell on Tuesday.

Final index review findings are released on June 5, using data from a day earlier.

Based on closing on data as of Friday, grocer and warehouse technology firm Ocado is set for the FTSE 100 chop, with wealth manager St James's Place (STJ) also set for relegation. Shares in Ocado have plunged 46% so far this year, while St James's Place has shrunk 28%.

Darktrace, which has surged 60% this year, is set for a promotion to the blue-chip index. Alongside it, housebuilder Vistry (VTY) is also favourite to go up, with its stock rising 37% year-to-date.

There are a host of possible other changes in the FTSE 250, with financial services firm Alpha Group International (ALPH), investment trust Brunner Investment Trust (BUT), asset manager Liontrust Asset Management (LIO) and pensions consulting and administration services firm XPS Pensions Group (XPS) set for promotion to the mid-cap index.

Iron ore pellets producer Ferrexpo (FXPO), National Express owner Mobico Group (MCG), and investment funds NextEnergy Solar Fund (NESF) and Octopus Renewables Infrastructure Trust (ORIT) are set for demotion from the FTSE 250.

In addition, index operator FTSE Russell announced fund supermarket Hargreaves Lansdown (HL) is set to join the FTSE 100 from Friday, taking up a spot freed up by outbound Flutter Entertainment (FLTR). Flutter shareholders earlier in May backed the firm's move to a standard main market listing from a premium one. The gambling firm is moving its premium listing to New York.

Replacing Hargreaves Lansdown in the 250 will be Molten Ventures (GROW).

By Eric Cunha, Alliance News news editor

Subscribe to Our Newsletters

Sign up Now

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.

Facebook Twitter LinkedIn

About Author

Alliance News  provides Morningstar with continuously updating coverage of news affecting listed companies.

© Copyright 2024 Morningstar, Inc. All rights reserved.

Terms of Use        Privacy Policy        Modern Slavery Statement        Cookie Settings        Disclosures