Avon Technologies PLC, Gamma Communications PLC and Wickes Group PLC are set to join the FTSE 250, in what is shaping up to be a quiet second quarterly index review of the year, data from FTSE Russell suggests.
According to the index operator’s indicative changes, Bellevue Healthcare Trust PLC, Mobico Group PLC and THG PLC are set to exit the FTSE 250.
There are no additions or removals from the FTSE 100, according to the indicative changes.
The indicative reading is based on data as of the market close on Friday. The final index review is released next week Wednesday, using data from the day prior.
The quarterly FTSE index review is based on changes to market capitalisation and sees those FTSE 250-listed stocks that are the 90th biggest or larger in the main market move up, and FTSE 100 companies that are 111th biggest or smaller move down, keeping the indices balanced.
Re-indexing can lead to increased trading activity, as fund managers with tracker portfolios need to offload stocks that no longer sit in the index and buy the stocks that move in.
Shares in e-commerce firm THG have fallen over 45% year-to-date, putting it on the FTSE 250 chopping block. The Manchester-based firm had joined the mid-cap index in the last quarterly review.
Shares in National Express operator Mobico have slumped almost two-thirds since the end of last year. It suffered a slump of 41% in one trading alone last month, as it warned of a ‘significant’ annual loss due to write-offs of goodwill.
The results, which came days later, showed a pretax loss of £609.3 million for 2024, stretching from £120.1 million.
Bellevue Healthcare Trust, meanwhile, has given back 16% this year.
With a market capitalisation of £178.2 million, Mobico is the smallest FTSE 250 stock. Bellevue has a market value of £240.9 million, while THG is worth £317.3 million.
Among those replacing the trio is respiratory protection equipment maker Avon Technologies, which has jumped 22% so far this year.
Shares in the firm, which serves military customers, received further impetus last week when it reported improved earnings for the half year to March 31.
Gamma Communications has suffered a 21% year-to-date share price fall, but its £1.12 billion market capitalisation puts it on track for the FTSE 250 inclusion, shortly after the business-to-business communication services provider’s move to the Main Market from AIM.
DIY products retailer Wickes, meanwhile, has jumped 46% this year.
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