EasyJet and Rightmove are expected to drop out of the FTSE 100 in the upcoming quarterly reshuffle of London's leading stock indexes, according to FTSE Russell. The index provider, run by the London Stock Exchange Group, updates the composition of its FTSE 100 and FTSE 250 indexes every three months.
Based on data from Friday, FTSE Russell indicated that the budget airline and the online property platform will be relegated to the FTSE 250, which tracks the next 250 largest companies. The changes will be confirmed on 3 March, following market close data from that day.
EasyJet's shares have fallen by 7% over the past six months. The Luton-based airline reported a 52% increase in losses for its latest quarter, attributing the decline to investments in Italy and a competitive environment. Rightmove has seen its value tumble 45% over the same period, with shares hit by warnings that extra spending on artificial intelligence would impact profit growth.
Replacing them in the FTSE 100 are IG Group and Tritax Big Box REIT, both currently in the FTSE 250. IG Group, a trading platform, has seen shares rise 13% over six months, driven by strong US market growth. Tritax Big Box, a warehouse owner, has gained 22% amid expansion into data centres.
CVS Group and The Schiehallion Fund are set to enter the FTSE 250, alongside EasyJet and Rightmove. Meanwhile, NCC Group and Pinewood Technologies are expected to drop out of the index.
