Media
Xchanging enters FTSE 250
06 Jun 2007
FTSE Group confirms today that Bradford & Bingley will leave the FTSE 100 and be replaced by Barratt Developments. Bradford & Bingley leaves the FTSE 100 after rejoining in September 2006.
In the mid cap FTSE 250 index, new listings Sports Direct International and business processing company Xchanging enter, while Domestic & General Group and ITE Group move up from the FTSE SmallCap to the FTSE 250. This means Woolworths Group, Helical Bar, Dunelm Group and Computacenter leave the FTSE 250 and go into the FTSE SmallCap.
Eurotunnel will not move from the FTSE SmallCap to the FTSE 250 as it is to be deleted from the FTSE UK indices before the changes approved at the review are implemented.
The changes to the indices are to take place following FTSE’s UK index series quarterly review, which is carried out by the independent FTSE Europe, Middle East and Africa regional committee. The regular index reviews ensure the indices remain an accurate reflection of the market they represent - essential as they form the basis of many pension funds and investment portfolios.
The FTSE 100 reserve list to be used in between index reviews will contain Rentokil Initial, Invensys, British Energy Group, Burberry Group, FirstGroup and London Stock Exchange Group. Reserve lists are created at each UK quarterly review, and contain the next six companies ranked in order of market capitalisation below the FTSE 100. Reserve lists are used in between index reviews in case of corporate actions or mergers which impact the index.
All changes from this review take effect from the start of trading on Monday 18th June.
If you are not a member of the press, please contact your local Client Services team.
For more information please contact:
Jo Mayall/Sabrina Bhangoo
+44 20 7866 1821
media@ftse.com
http://www.ftse.com/media/ukreview
Notes to Editors
About FTSE Group
FTSE Group is a world-leader in the creation and management of indexes. With offices in Beijing, London, Frankfurt, Hong Kong, Madrid, Paris, New York, San Francisco, Boston, Shanghai and Tokyo, FTSE Group services clients in 77 countries worldwide. It calculates and manages the FTSE Global Equity Index Series, which includes world-recognized indexes ranging from the FTSE All-World Index, the FTSE4Good series and the FTSEurofirst Index series, as well as domestic indexes such as the prestigious FTSE 100. The company has collaborative arrangements with the Athens, AMEX, Cyprus, Euronext, Johannesburg London, Madrid, NASDAQ and Taiwan exchanges, as well as Nomura Securities, Hang Seng and Xinhua Finance of China. FTSE also has a collaborative agreement with Dow Jones Indexes to develop a single sector classification system for global investors.
FTSE indexes are used extensively by investors world-wide for investment analysis, performance measurement, asset allocation, portfolio hedging and for creating a wide range of index tracking funds. Independent committees of senior fund managers, derivatives experts, actuaries and other experienced practitioners review all changes to the indexes to ensure that they are made objectively and without bias. Real-time FTSE indexes are calculated on systems managed by Reuters. Prices and FX rates used are supplied by Reuters.