Aberdeen Asset Management will be joining the FTSE 100 Index. In the rebalance, chemical specialist Croda International also joins the UK’s leading index, while Cairn Energy and Essar Energy leave and enter the FTSE 250 Index.
The changes announced today are part of the impartial reviews approved by the independent FTSE Europe, Middle East and Africa Regional Committee. The rules-driven reviews ensure the UK indices continue to portray an accurate reflection of the market they represent, and form an essential component to the management of the indices.
FTSE operates a reserve list for the FTSE 100 Index, to be used in the event of a corporate action occurring between reviews e.g. merger, acquisition, delisting or suspension. In such cases the reserve list constituent with the largest market capitalisation (on the date of the corporate action), will replace the outgoing constituent. With immediate effect, the following reserve list will be used:
FTSE 100 Reserve List (in descending order of Gross Market Capitalisation) is: Babcock International Group; Wood Group (John); Pennon Group; Informa; Travis Perkins; and London Stock Exchange Group.
All changes from this review will be implemented at the close of business Friday, 16 March 2012 and take effect from the start of trading on Monday, 19 March 2012.