Russian silver and gold miner Polymetal (POLY) has returned to the FTSE 100 three years after it was demoted amid a broader decline in commodity prices.
It takes the place of housebuilder Berkeley (BKG) which is demoted from the blue chip index in the FTSE’s quarterly reshuffle.
Polymetal on 24 August 2016 reported a 67% rise in net earnings to $164 million for the first half of the year and a drop in cash costs, with a recovery in gold prices further boosting its success.
Berkeley’s fallout is unsurprising as shares in housebuilders have struggled following the Brexit vote. On 24 June, its share price plummeted from £32.85 to £25.93 and has since struggled to recover.
GVC moved from AIM to London’s Main Market in February this year and upgraded to a premium listing in August, enabling to qualify for FTSE index status. The company in July said its acquisition of Bwin.party was on track to secure €125 million of synergies by the end of 2017.
Hunting is perhaps a surprising entry to the FTSE 250 considering its weak trading performance in the first half of 2016. A recovery in oil prices and cost cutting to preserve cash has encouraged investors and boosted its share price.