The quarterly rejig of the FTSE 100 index takes effect today, when the UK's benchmark index kicks in to touch the most beleaguered of the blue-chips, and promotes the midcap rising stars. With the help of The Share Centre's investment research analyst, Graham Spooner, here's the Footsie hits, and the misses.
shares -19.5 YTD
shares -21.5% YTD
shares -29.5 YTD
Spooner says: 'Supermarket retailer Morrisons has been fighting relentlessly to maintain market share but strong competition in the sector led to the company reporting a decline in profits and a warning that restructuring costs will continue to impact in the future. This relegation is unlikely to come as a surprise to the market however, due to the fact the company only narrowly escaped demotion in the June and September reviews.'
The analysts continues: 'Despite a small recovery recently, security firm G4S has also been given the boot as a result of a 13% fall in the share price over the past quarter alone.'
As for aerospace group Meggitt, 'shares in aerospace and defence company Meggitt fell by 20% on the back of a profit warning in October which is likely to be the reason for its downgrading,' spooner points out.
Who is in:
shares +26% (since 240p IPO 16 Oct)
Provident Financial (PFG):
shares +33.2% YTD
shares +57% YTD
'Global payments processor Worldpay, only joined the stock market in October this year. It has a market capitalisation of around £5.9 billionn, operates in 146 countries and has 400,000 customers worldwide,' Spooner says.
The group is joined by one of the UK’s 'leading suppliers of personal credit products Provident Financial,' according to the analyst, whose shares have risen 25% since the last review, and business support services firm DCC.'