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Kingfisher Poised to Drop Out of FTSE 100

Stockmarket shares decline

In a blow to the new CEO Thierry Garnier, Kingfisher PLC could be poised to drop out of the FTSE 100 when a quarterly reshuffle is confirmed next week. 

Under FTSE rules for the index, companies get the chop from the FTSE 100 automatically and are shoved into the FTSE 250 if they fall to 111th or below on the list of largest companies by market capitalisation. The changes will be announced on Wednesday 11th March on the basis of closing share prices on Tuesday.

At mid-afternoon last Friday, Kingfisher PLC sat in 109th position with a market value of under £3.9bn. Another company that may experience the same fate is William Morrison PLC, who sat in 106th place with a value of just over £4bn.

Here at Insight DIY, we'll be the first to report the outcome next Wednesday.

Source: Insight DIY & Proactive Investors.co.uk.

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03 March 2020

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