Tech shares replace brewers in FTSE indices
Quarterly changes made to the UK series of the FTSE Actuaries Share Indices were approved by the group’s Equity Indices Committee. Most of the new entrants to the FTSE 100 index are shares of technology or biotech companies, while many of the leavers are brewers or utilities.
Cable & Wireless, Freeserve, Thus and Baltimore Technologies were among the nine stocks to join the top 100 while the nine outgoing stocks included Associated British Foods, Allied Domencq, Hanson and Whitbread.
All the new entrants will be weighted according to the new free float rules announced in August, FTSE International said. The next quarterly meeting of the FTSE Equity Indices Committee will take place on June 7.