Burberry Group PLC (LSE:BRBY) and newly listed Metlen Energy & Metals PLC (LSE:MTLN) will be promoted to the FTSE 100 as part of the September quarterly review.
Index provider FTSE Russell said they will replace housebuilder Taylor Wimpey PLC (LSE:TW.) and student accommodation developer Unite Group PLC (LSE:UTG) in the benchmark from Monday, 22 September.
They will be among seven additions to the FTSE 250 index, along with BioPharma Credit PLC (LSE:BPCR), Johnson Service Group plc (LSE:JSG), Oxford BioMedica PLC (LSE:OXB) and a pair of private equity investment trusts, Oakley Capital Investments (AIM:OCI) and Partners Group Private Equity, formerly known as Princess Private Equity until last summer.
Demoted from the FTSE 250 into the small cap ranks are: ASOS, Auction Technology Group, Bloomsbury Publishing, Crest Nicholson Holdings, NextEnergy Solar Fund and Polar Capital Global Financials Trust.
Burberry returns to the City of London's top flight exactly a year after being dumped out of the blue-chip index.
Metlen, a Greece-headquartered utility and mining company, floated in London in early August in what was the largest listing in the UK in almost 12 months.
Mining tycoon Evangelos Mytilineos, changed the name of his former family firm in preparation for the mining and energy firm shifting its primary listing from Athens to London, hailing the underlined “the compelling offer and enduring attraction of UK capital markets.”