EasyJet and Ithaca Energy to join FTSE 100 in UK index reshuffle

EasyJet and Ithaca Energy to join FTSE 100 in UK index reshuffle
EasyJet enters FTSE 100

Britain's benchmark equity indexes are set for changes this month as the latest quarterly review reshapes membership across the FTSE UK series. EasyJet and Ithaca Energy are moving into the FTSE 100, while the adjustments also trigger entries and exits in the FTSE 250.

Highlights

  • EasyJet and Ithaca Energy will join the FTSE 100 index, replacing Entain and Persimmon, effective September 21 after the quarterly review.
  • Entain, Persimmon, Pinewood Technologies, Seraphim Space Investment Trust, and Volex will join the FTSE 250, while Aston Martin and GB Group exit.
  • Apollo Global agreed in August to acquire EasyJet in a £5.70 billion ($7.69 billion) deal, increasing focus on the airline.

September review sets index changes

As reported by Reuters, citing FTSE Russell, budget airline EasyJet and oil and gas producer Ithaca Energy will join Britain's FTSE 100 index, replacing betting group Entain and homebuilder Persimmon.

The changes stem from the September quarterly review of the FTSE UK index series. They will be implemented at the close of business on September 18 and become effective from September 21.

FTSE 250 sees wider knock-on moves

The FTSE 250 index will add five companies, Entain, Persimmon, Pinewood Technologies, Seraphim Space Investment Trust and Volex. Aston Martin and GB Group will exit the FTSE 250 index.

EasyJet is also in focus after Apollo Global agreed in August to buy the airline in an about 5.70 billion pound deal, equivalent to $7.69 billion.

Our earlier coverage of the surge in UK gilt yields explained how a global bond sell-off, higher oil prices, and renewed Middle East tensions were stoking inflation concerns and weighing on London equities. It highlighted the FTSE 100 slipping and the FTSE 250 hitting a near one-month low as borrowing costs rose, increasing pressure on government finances ahead of the autumn budget.

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