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Ocado Group PLC’s stint in the FTSE 100 is set to end, with another technology firm Darktrace PLC set to replace it in the top flight, according to indicative index changes by FTSE Russell on Tuesday. Final index review findings are released on June 5, using data from a day earlier. Based on closing on data as of Friday, grocer and warehouse technology firm Ocado is set for the FTSE 100 chop, with wealth manager St James’s Place also set for relegation. Shares in Ocado have plunged 46% so far this year, while St James’s Place has shrunk 28%. Darktrace, which has surged 60% this year, is set for a promotion to the blue-chip index. Alongside it, housebuilder Vistry is also favourite to go up, with its stock rising 37% year-to-date. There are a host of possible other changes in the FTSE 250, with financial services firm Alpha Group International PLC, investment trust Brunner Investment Trust PLC, asset manager Liontrust Asset Management PLC and pensions consulting and administration services firm XPS Pensions Group PLC set for promotion to the mid-cap index. Iron ore pellets producer Ferrexpo PLC, National Express owner Mobico Group PLC, and investment funds NextEnergy Solar Fund Ltd and Octopus Renewables Infrastructure Trust PLC are set for demotion from the FTSE 250. In addition, index operator FTSE Russell announced fund supermarket Hargreaves Lansdown PLC is set to join the FTSE 100 from Friday, taking up a spot freed up by outbound Flutter Entertainment PLC. Flutter shareholders earlier in May backed the firm’s move to a standard Main Market listing, from a premium one. The gambling firm is moving its premium listing to New York. Replacing Hargreaves Lansdown in the 250 will be Molten Ventures PLC. Copyright 2024 Alliance News Ltd. All Rights Reserved.
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