Intermediate Capital, Pennon and Fresnillo have been promoted to the main board in the latest FTSE 100 reshuffle.
They will replace Kingfisher, TUI and NMC Health, which were all tipped to drop out after disruption by weak DIY markets, coronavirus and corporate governance issues respectively.
NMC Health PLC (LON:NMC), which is now suspended, has lost around two-thirds of its value since last summer after a report by short-seller Muddy Waters questioned its accounting policies, setting off a chain of events that has resulted in the resignation of all the company’s executives and the sacking of its CEO amid questions over its shareholder register.
B&Q owner Kingfisher plc (LON:KGF) has had ongoing difficulties in France while travel firm TUI AG (LON:TUI) has been hit in recent weeks by coronavirus disruption.
Of the promotees, miner Fresnillo Plc (LON:FRES) has been buoyed by the strength of the gold price while housebuilder Bellway PLC (LON:BWY) and asset manager Intermediate Capital Group PLC (LON:ICP) have produced consistently strong numbers.
On the FTSE 250 there were eleven changes with Gamesys Group, Biffa, Chemring, Petropavlovsk, Impax Environmental Markets, Forterra, Hipgnosis Songs Funds and XP Power all moving up.
Hunting, NewRiver REIT, Restaurant Group, Tullow Oil, 888 Holdings, SIG, Finablr and Galliford Try go the other way and drop into the FTSE ALL-Share.