Three UK companies are expected to be promoted to the FTSE 100 next month, with Games Workshop set to move to London’s top index for the first time.
The Warhammer-maker has seen its stock price jump 35 per cent since the start of 2024 after reporting revenue that was ahead of expectations.
St James’s Place is also set to return to the FTSE 100 after falling out of the index in June, thanks to increasingly strong inflows into its wealth management business and an ambitious cost cutting programme.
Meanwhile, Alliance Trust used to be a member of the FTSE 100, originally joining in 2008, before being demoted due to a share price decline in 2011.
It has since gone through a ‘mega merger’ with Witan Investment Trust, which is set to boot the company up to the FTSE 100 once again.
The shake-up of the FTSE 100 and FTSE 250, which happens quarterly, will be officially decided using data at market close in a week (3 December).
Set to be demoted from London’s main index are discount store B&M, Frasers Group and housebuilder Vistry, with the latter’s shares plunging earlier this month after issuing a profit warning.
FTSE 250
Four companies are set to be promoted to the secondary index: Deliveroo, Diversified Energy Company, Mobico and Oxford Nanopore.
Diversified Energy dropped from the FTSE 250 in September at the last reshuffle, while Mobico previously fell out of the index in June.
Deliveroo and Oxford Nanopore are a bit more complicated. While Deliveroo floated in 2021, it has not been eligible for FTSE 250 inclusion due to its ‘standard’ listing, rather than the ‘premium’ label required for FTSE status.
This dual approach to listed stocks was replaced by a single category by the Financial Conduct Authority earlier this year, as part of efforts to simplify the UK’s listing regime and make it more attractive for IPOs.
Oxford Nanopore also transferred its listing category on the London Stock Exchange in October, making it eligible for FTSE inclusion.
Set to be cut from the FTSE 250 are Ceres Power, Close Brothers, health and beauty manufacturer PZ Cussons and energy engineer Wood Group.
Close Brothers has been pummelled by the ongoing litigation around motor finance brokers, leaving its stock price is down almost 75 per cent since the start of 2024.