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Burberry Group PLC has been relegated from the FTSE 100 in the latest quarterly reshuffle, reflecting challenging conditions in the luxury goods market.
Replacing Burberry will be Hiscox Ltd, the Anglo-Bermudan insurance provider, which has seen its share price rise 14% in the year to date, taking its market value above £4 billion.
In contrast, Burberry’s share price has plunged 55% following a number of disappointing trading updates.
Burberry will be joined in the FTSE 250 by recently listed, Raspberry Pi Holdings PLC. The latter replaces Alabama, US-based oil and gas production company, Diversified Energy Co.
FTSE Russell confirmed on Wednesday that the following changes will take effect to its UK indices from the market open on Monday, September 23, after completing its quarterly review.
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FTSE 100 Additions:
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Hiscox
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FTSE 100 Deletions:
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Burberry
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FTSE 250 Adds:
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Burberry
Raspberry Pi Holdings
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FTSE 250 Deletes:
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Diversified Energy Company
Hiscox
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