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Royal Mail poised to replace Renishaw in return to FTSE 100

Wed, 26th May 2021 07:28

(Alliance News) - FTSE Russell late Tuesday indicated that, ahead of next week's quarterly UK index review, Royal Mail PLC could re-join the FTSE 100, replacing up-for-sale Renishaw PLC.

Based on data from Friday last week, FTSE Russell said that Royal Mail could rise back into the FTSE 100 index in the review to be unveiled after the market close next Wednesday. Royal Mail dropped out of the blue-chip index for a second time in December 2018, and has remained in the mid-cap FTSE 250 ever since.

Meanwhile, Renishaw could drop out of the large-cap index.

The engineering and scientific technology firm in March put itself up for sale. Executive Chair David McMurtry and Non-Executive Deputy Chair John Deer, the company's founders, said they intend to sell their "very substantial" shareholdings in Renishaw. Together, the founders own around 53% of the group, and have expressed a preference for the disposal of their entire combined shareholding.

A raft of recently listed stocks are set for entry into the mid-cap FTSE 250, including Auction Technology Group PLC, Moonpig Group PLC and Trustpilot AS. Also up for entry are Tyman PLC and Volution Group PLC.

Auction Technology and Moonpig both began trading in London in February, while Trustpilot floated in March.

Poised to drop out the FTSE 250 are Foresight Solar Fund, JLEN Environmental Assets Group Ltd, Provident Financial PLC, Sabre Insurance Group PLC, and Wickes Group PLC. DIY retailer Wickes was spun off from FTSE 250 constituent Travis Perkins PLC last month.

The FTSE index review will use data from next Tuesday's close, with confirmed rebalance changes announced after the market close on Wednesday, June 2 - meaning the actual results of the review could differ from these indicative changes.

The index changes are effective on Monday, June 21.

By Lucy Heming; lucyheming@alliancenews.com

Copyright 2021 Alliance News Limited. All Rights Reserved.

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