Yesterday saw the latest FTSE Russell quarterly index review, resulting in significant changes to the composition of both the FTSE 100 large-cap index and the FTSE 250 mid-cap index.

Four stocks left the FTSE 100 – cruise ship operator Carnival (CCL), utility group Centrica (CNA), low-cost airline EasyJet (EZJ) and aerospace firm Meggitt (MGGT).

Travel related stocks bore the brunt of the sell-off in March and April as the coronavirus pandemic halted global travel and passenger numbers fell dramatically.

Taking their place in the index for the first time were cyber-security firm Avast (AVST), gambling and sports betting company GVC (GVC), and domestic services group Homeserve (HSV), while DIY retailer Kingfisher (KGF) re-joined the top flight after being demoted in the last quarterly review.

SWEEPING CHANGES TO FTSE 250

There were no fewer than 13 changes in the FTSE 250 mid-cap index, although that figure drops to nine when including stocks promoted to and demoted from the FTSE 100.

As with the large-cap index, the changes convey a sense of ‘changing of the guard’ with new technology-based businesses ousting more old-fashioned incumbents.

New faces were online gambling group 888 Holdings (888), online-only electrical appliance retailer AO World (AO.), BB Healthcare Trust (BBH), smart meter installer Calisen (CLSN), social housing provider Civitas (CSH), renewable energy infrastructure firm JLEN Environmental Assets (JLEN), asset manager Liontrust (LIO), gene therapy firm Oxford Biomedica (OXB) and Scottish American Investment Company (SAIN).

Leaving the FTSE 250 for the obscurity of the small-cap realm were food producer Bakkavor (BAKK), chemical firm Elementis (ELM), brick maker Forterra (FORT), event organiser Hyve Group (HYVE), JPMorgan Indian Investment Trust (JII), brewer Marston’s (MARS), retirement home builder McCarthy & Stone (MCS), aerospace firm Senior (SNR) and bus and rail group Stagecoach (SGC).

All changes will be made between the close of business on Friday 19 June and the market open on Monday 22 June.

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Issue Date: 04 Jun 2020