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Dechra and Electrocomponents could be elevated to FTSE 100

Tue, 23rd Nov 2021 18:12

(Alliance News) -Â FTSE Russell late Tuesday indicated that, ahead of next week's quarterly UK index review, veterinary products company Dechra Pharmaceuticals PLC and industrial and electronics products distributor Electrocomponents PLC could be added to the FTSE 100 index.

FTSE Russell said, based on data from Friday last week, the two could be replacing cybersecurity firm Darktrace PLC and specialty chemicals firm Johnson Matthey PLC.

In the mid-cap index, AO World PLC and Wagamama restaurant chain owner Restaurant Group PLC currently face being knocked out in favour of Goldman Sachs Group Inc spin-off Petershill Partners PLC and subprime lender Provident Financial PLC.

While Tuesday's trading update from AO World was after the cut-off point for FTSE Russell's indicative index changes, its swing to an interim loss amid logistics problems and a more competitive German market is unlikely to help the online electricals retailer retain its spot in the FTSE 250.

AO World shares closed down 14% on Tuesday, giving it a market capitalisation of GBP502 million.

The quarterly FTSE index review will use data from next Tuesday's close, with confirmed rebalance changes announced after the market close on Wednesday next week, December 1 - meaning the actual results of the review could differ from these indicative changes. The index changes will be effective on Monday, December 20.

By Lucy Heming;Â lucyheming@alliancenews.com