G4S, Coats and Sirius Minerals enjoy promotion in FTSE 350 reshuffle
G4S and Segro will be added to the FTSE 100 index, FTSE Russell confirmed overnight, as Hikma Pharmaceuticals and Intu Properties are demoted to the FTSE 250.
ALLIED MINDS
13.85p
16:50 29/11/22
AO World
100.80p
16:40 28/03/24
Banks
3,803.92
17:14 28/03/24
BH Macro Ltd. GBP Shares
333.50p
16:34 28/03/24
Coats Group
81.10p
16:40 28/03/24
Construction & Materials
9,897.77
17:14 28/03/24
Debenhams
1.83p
15:45 08/04/19
Equity Investment Instruments
11,757.71
17:14 28/03/24
FDM Group (Holdings)
343.00p
16:40 28/03/24
Financial Services
14,827.91
17:14 28/03/24
FTSE 100
7,952.62
17:14 28/03/24
FTSE 250
19,884.73
17:14 28/03/24
FTSE 350
4,383.21
17:14 28/03/24
FTSE All-Share
4,338.05
16:50 28/03/24
FTSE Small Cap
6,388.90
17:14 28/03/24
G4S
244.80p
16:40 04/05/21
General Retailers
4,075.15
17:14 28/03/24
Hikma Pharmaceuticals
1,918.50p
16:45 28/03/24
Industrial Engineering
14,461.75
17:14 28/03/24
Intu Properties
1.78p
13:56 29/06/20
Keller Group
1,048.00p
16:40 28/03/24
Melrose Industries
673.00p
16:45 28/03/24
Mining
9,418.88
17:14 28/03/24
Pershing Square Holdings Ltd NPV
4,078.00p
16:40 28/03/24
Pharmaceuticals & Biotechnology
21,366.25
17:14 28/03/24
Real Estate Investment Trusts
2,325.80
17:14 28/03/24
SEGRO
903.80p
16:34 28/03/24
Sirius Minerals
5.49p
17:14 13/03/20
Software & Computer Services
2,487.67
17:14 28/03/24
Support Services
11,106.65
17:14 28/03/24
SVG Capital
735.00p
16:39 27/06/17
TBC Bank Group
3,215.00p
16:45 28/03/24
FTSE Russell, which operates the UK equity benchmarks, confirmed that Allied Minds, AO World, BH Macro, Debenhams, Keller and SVG Capital all dropped out of the FTSE 250 onto the small cap list.
They will be replaced by industrial thread and consumer textile crafts business Coats Group, IT-focused professional services provider FDM Group, acquisitive manufacturing group Melrose Industries, investment trust Pershing Square Holdings, Yorkshire Polyhalite miner Sirius Minerals and Georgia's TBC Bank Group.
The changes, which are made based on market capitalisations from Wednesday's closing prices, were confirmed after the market closed and will be implemented at the close of business Friday, 16 June and put into practice from start of trading on Monday 19 June.
FTSE Russell said its reserve list for the FTSE 100 Index, in the event of a merger, acquisition, delisting or suspension before its next quarterly review, was: Berkeley Group, Melrose Industries, NMC Health, JD Sports Fashion, Just Eat and Halma.
Get your Coats
Coats is an interesting case, having been a founding member of the FT 30 index in 1935 and once the third largest company in the world.
In the many years since it has undergone significant corporate changes, having been bought up by the Guinness Peat Group before being listed back in London in early 2015 and last year delisting from both the Australian and New Zealand stock exchanges.
In January this year, Coats appointed ex-Shell, GE and Honeywell veteran Rajiv Sharma as chief executive and the following month returned to the dividend list, which all helped its market capitalisation topping ÂŁ1bn last week.
Sirius Minerals has not quite the storied history of Coats, but has for years been a favorite among retail investors on the AIM market as it battled to gain approval to develop a polyhalite mine in the Yorkshire moors.
Analyst Nicholas Hyett at Hargreaves Lansdown noted that Sirius has been "furiously raising money" of late in order to embark on the next stage of development.
"With plans to build a huge mining facility directly under a National Park, many were sceptical that the project would ever get off the ground. However, regulatory approval is now in the bag and several large investors are on board.
"The move to the main market and FTSE 250 suggests there may now be appetite for the project among the large institutions who are unable to invest in AIM stocks,” he said.