By Joe Hoppe
LONDON (Dow Jones)–ITV Plc and Royal Mail Plc will exit the FTSE-100 Index as part of the quarterly rebalance. Centrica Plc, the owner of British Gas, and Unite Group Plc, a student accommodation provider, will move up from the mid-cap FTSE-250 index into London’s leading stock market index, FTSE Russell announced on Wednesday.
Royal Mail has been a member of the Index since May 2021, while ITV only rejoined the Index in June after a nine-month absence. Centrica is returning to its old spot after delisting from the Index in June 2020 after almost 23 years, while Unite was included for the first time. The changes will come into effect with the start of trading on June 20th.
The FTSE-100 includes the shares of the 100 largest market capitalization companies on the London Stock Exchange. If the market cap falls to rank 111 or below, that stock drops out of the index. If a company’s market capitalization is at least 90th place or better, the stock is automatically included in the index.
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(END) Dow Jones Newswires
June 01, 2022 18:14 ET (22:14 GMT)
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