Retailer drops out of the FTSE 250
FURNITURE chain DFS has dropped out of the FTSE 250 after losing 40% of its value in the aftermath of the EU referendum.
It joins NCC Group, Laird and Countrywide in being demoted from the index in the quarterly review to establish the list of the 100 largest listed companies. Ferrexpo, Nostrum Oil and Gas, and NewRiver REIT have been promoted to the FTSE 250.
The retailer floated in March 2015 at 255p per share, which valued the company at £540m. It climbed above 350p last December but then slipped back to 296p by the night of the EU referendum, and fell 30% in the two trading days after the vote before it reached its all-time low of 181p in early July.
Despite a modest recovery, it closed last night at 214p, valuing the company at £455m.
The quarterly review has also selected ConvaTec Group and Smurfit Kappa to join the FTSE 100, with Travis Perkins and Polymetal International dropping into the FTSE 250.
The changes will come into effect on December 19.
