EasyJet and Rightmove are on track to slip out of the FTSE 100 in the latest reshuffle of London’s top stock indexes.
FTSE Russell, the global index provider run by the London Stock Exchange Group, updates the firms listed on its FTSE 100 and FTSE 250 indexes every three months.
On Tuesday, it revealed which of the UK’s largest firms are likely to be promoted or demoted from the share indexes.
The next reshuffle will take place based on data from the market close on Tuesday March 3, with changes confirmed the next day.
FTSE Russell said that data collected on Friday indicate that EasyJet and Rightmove are set to drop from the FTSE 100 list of top London-listed stocks to the FTSE 250 list, which covers the next 250 largest companies.
Shares in budget airline easyJet have dipped by 7% over the past six months.
Last month, the Luton-based business revealed that losses grew by 52% for the latest quarter on the back of investments in Italy and a “competitive environment”.
Meanwhile, online property platform Rightmove has seen its value tumble 45% over the past six months, with shares particularly impacted by warning that extra spending on artificial intelligence would knock its profit growth.
FTSE Russell said in its list of indicative changes that the firms are on track to be replaced by IG Group and Tritax Big Box REIT in the FTSE 100. Both firms are currently in the FTSE 250.
Trading platform business IG Group shares are up 13% over the past six months, amid a period of rising revenues driven by strong growth in the US market.
Distribution site and warehouse owner Tritax Big Box has seen shares rise 22% over the past six months, amid a boost from its expansion into data centres.
Vet business CVS Group and investment fun The Schiehallion Fund are set to enter the FTSE 250, alongside Rightmove and EasyJet.
Meanwhile, cyber security firm NCC Group and Pinewood Technologies, which makes software largely for car dealerships, are expected to drop out of the index.
