British grocer Morrison, engineering firm Meggitt and security company G4S are to leave the bluechip FTSE 100 index, global index provider FTSE Russell said on Wednesday. The companies are to be replaced by mid-cap stock DCC, an Irish distribution company, financial services firm Provident Financial and payments processor Worldpay Group.
The companies leaving the FTSE 250 index are: estate agency Foxtons Group, oilfield services provider Hunting, copper miner Kaz Minerals, diamond mining company Petra Diamonds and oil producer Premier Oil. The changes will take effect from the start of trading on December 21. Gaining a place in the FTSE 100 index can make a company's shares more attractive to investors, especially since the index is often tracked by funds which then have the opportunity to include that stock in their portfolios.