3i and Intu Properties to join FTSE 100
LONDON, June 4
LONDON, June 4 (Reuters) - Private equity company 3i and Intu Properties are to join Britain's blue-chip FTSE 100 equity index, at the expense of bookmaker William Hill and industrial investment group Melrose Industries.
Getting into the FTSE 100 can often fuel further demand for a company's shares, since funds that track the FTSE or invest in the index can then add that stock to their portfolio.
The changes were announced by FTSE Group on Wednesday.
3i shares have risen by around 10 percent since the start of 2014, while the FTSE 100 is up by around 1 percent. Intu Properties' shares have progressed by around 12 percent.
Melrose Industries said its exit from the FTSE 100 partly reflected its decision to return 600 million pounds ($1 billion) in cash to shareholders earlier this year.
The changes to the FTSE 100 will take effect when trading begins on June 23.
($1 = 0.5974 British Pounds) (Reporting by Sudip Kar-Gupta; Editing by Lionel Laurent)