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Burberry to exit FTSE 100 with a whimper

Published 20/09/2024, 09:42
© Reuters.  Burberry to exit FTSE 100 with a whimper
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Proactive Investors - British fashion icon Burberry Group PLC (LON:BRBY) bids farewell to the FTSE 100 index today, with shares appropriately off more than 4.5% in early trades.

Burberry first entered the blue-chip index in 2009 at a time when the stock was on the ascent and Emma Watson was the face of the company.

But after a period of decline, in which shares have dropped by 70% amid a substantial reduction in global luxury spend, Burberry is set to be replaced by insurer Hiscox Ltd (LON:HSX) from Monday.

Burberry has copped derating after derating amid a sluggish rebound in global luxury demand (particularly in China), a departing chief executive and a suspended dividend.

The stock is currently at a 15-year low of 596p.

Read more on Proactive Investors UK

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