Proactive Investors - Burberry Group PLC (LON:BRBY) and easyJet PLC (LON:EZJ) are anticipated to be demoted from the FTSE 100 index at the next quarterly reshuffle.
This is according to the latest indicative changes guidance from FTSE Russell, the administrator of the index, though the final changes will be based on share prices and market valuations next Tuesday, 3 September.
As these indicative changes were based on data as of Friday 23 August, they missed a 6% surge in easyJet's share price this week off the back of improved market pricing sentiment.
As Burberry's relegation to the FTSE 250 looks likely, with a £2.5 billion market cap leaving it well outside the FTSE's top 100 largest companies, the fashion house is set to be replaced by insurer Hiscox Ltd (LON:HSX).
If easyJet is demoted, FTSE Russell said the most likely replacement would be warehouse property developer Tritax Big Box REIT.
Also joining Burberry in the FTSE 250 will be Raspberry Pi (LON:RPI) after it floated in June.
The reshuffle will be conducted using data at the close of trading on 3 September, with confirmation on the evening of 4 September 2024 and the changes to take on Monday 23 September.