Metlen Energy & Metals PLC is set to join the FTSE 100 at the first time of asking, at the expense of housebuilder Taylor Wimpey PLC, data from FTSE Russell suggested on Tuesday.
According to the index operator’s indicative changes, aluminium and electricity producer Metlen will join London’s blue-chip index. Metlen has a market capitalisation of around €7.00 billion. It debuted in London earlier in August.
Taylor Wimpey has a market value of £3.50 billion, the smallest of the whole FTSE 100. Shares in the housebuilder are down 38% over the past 12 months.
Taylor Wimpey is set to join the FTSE 250 where there may be a number of changes.
Retailer Asos PLC, book publisher Bloomsbury Publishing PLC and Auction Technology Group PLC are expected to exit the FTSE 250. NextEnergy Solar Fund Ltd, an investor in solar energy and energy storage, investment firm Ocean Wilsons Holdings Ltd and financial sector investor Polar Capital Global Financials Trust PLC are also on the FTSE 250 chopping block.
Life sciences industry-focused investor BioPharma Credit PLC, textile services provider Johnson Service Group PLC, and Oakley Capital Investments Ltd are candidates for FTSE 250 promotion. Oakley Capital Investments provides access to private equity funds managed by investment adviser Oakley Capital Ltd.
Also set for promotion are gene and cell therapy developer Oxford BioMedica PLC and Partners Group Private Equity Ltd.
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