Northern Rock has seen its share price crash from above 600p to around 100p in the last three months so it was no surprise to see it ejected from the list of FTSE 100 constituents in the quarterly shake-up.
Also being ejected from the FTSE 100 are pub groups Mitchells and Butlers and Punch Taverns, electricals retailer DSG, housebuilder Barratt, newspaper group Daily Mail and sugar giant Tate and Lyle.
They will be replaced by Cairn Energy, Kelda, TUI Travel, FirstGroup, G4S, Admiral and Thomas Cook.
The changes will come into effect on December 24. Some use this as a opportunity to buy in these shares that are bing promoted to FTSE 100. The reason behind this that the fund managers tracking FTSE 100 will have to buy these shares to keep their portfolio up to date. These shares have been rallying for last few days. There may be still some steam in these shares. Also most of these are long term investment. Something for your retirement may be!
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