Proactive Investors - Marks and Spencer Group PLC (LON:MKS) is making a return to the FTSE 100 four years after it dropped out, in the latest sign of the changing fortunes of the UK retailer.
Index complier FTSE Russell confirmed the move on Wednesday afternoon, adding that technical products provider Diploma (LON:DPLM), Hikma Pharmaceuticals (LON:HIK) and Dechra Pharmaceuticals (LON:DPH)would also join the blue-chip index following the reshuffle.
M&S chief executive Stuart Machin posted on X, formerly Twitter, “Good news today but it's just another day. Although we’ve made progress, theres still so much more opportunity as we reshape for growth.”
Good news today but it's just another day. Although we’ve made progress, theres still so much more opportunity as we reshape for growthSo our mantra is to stay positively dissatisfied! Always seeking to raise the bar & ensuring we continue our momentumhttps://t.co/VctbN43YmZ
— Stuart Machin (@MachinStuart1) August 30, 2023
Leaving the top table are asset manager Abrdn PLC (LON:ABDN), insurer Hiscox (LON:HSX), manufacturer Johnson Matthey (LON:JMAT) and housebuilder Persimmon (LON:PSN) will leave the FTSE 100 and enter the FTSE 250.
Joining the FTSE 250 alongside those four are 888 Holdings (LON:888), Breedon Group PLC (LON:BREE), Cab Payments Holdings PLC (LON:CABP), Ceres Power Holdings PLC (LON:CWR), Foresight Group PLC and Moonpig PLC (LON:MOONM).
Leaving the FTSE 250 are Capita PLC (LON:CPI), CMC Markets PLC (LON:CMCX), Molten Ventures PLC (LON:GROW), Synthomer (LON:SYNTS), Vanquis Banking Group PLC (LON:VANQ) and Warehouse REIT.
The quarterly review, which allows a handful of companies to move up and down, is based on the market capitalisation of companies at the close of trading on Tuesday and will take effect from the start of trading on September 18.