Marks and Spencer Group PLC (LSE:MKS) is making a return to the FTSE 100 four years after it dropped out, in the latest sign of the changing fortunes of the UK retailer.
Index compiler FTSE Russell confirmed the move on Wednesday evening, adding that technical products provider Diploma PLC, Hikma Pharmaceuticals PLC (LSE:HIK, OTC:HKMPF) and Dechra Pharmaceuticals PLC would also join the blue-chip index following the reshuffle.
M&S chief executive Stuart Machin posted on X, formerly Twitter: “Although we’ve made progress, there's still so much more opportunity as we reshape for growth.”
Good news today but it's just another day. Although we’ve made progress, theres still so much more opportunity as we reshape for growth
So our mantra is to stay positively dissatisfied! Always seeking to raise the bar & ensuring we continue our momentumhttps://t.co/VctbN43YmZ
— Stuart Machin (@MachinStuart1) August 30, 2023
Leaving the top table and entering the FTSE 250 are asset manager Abrdn PLC (LSE:ABDN), insurer Hiscox Ltd (LSE:HSX), chemicals specialist Johnson Matthey PLC (LSE:JMAT) and housebuilder Persimmon PLC (LSE:PSN).
Promoted from the small caps up to the FTSE 250 alongside those four are 888 Holdings PLC (LSE:888), Breedon Group Plc (LSE:BREE), CAB Payments Holdings PLC (LSE:CABP), Ceres Power Holdings PLC (LSE:CWR, OTC:CPWHF), Foresight Group Holdings Ltd (LSE:FSG) and Moonpig Group PLC (LSE:MOON).
Leaving the FTSE 250 are Capita PLC, CMC Markets PLC, Molten Ventures PLC, Synthomer PLC, Vanquis Banking Group PLC and Warehouse REIT.
The quarterly review, which allows a handful of companies to move up and down, is based on the market capitalisation of companies.
In the latest update this was taken at the close of trading on Tuesday, with the changes to take effect from the start of trading on 18 September.