* ConvaTec Group and Smurfit Kappa to join FTSE 100
* Polymetal International and Travis Perkins to leave FTSE
* Ferrexpo, Newriver Reit, Nostrum Oil & Gas will enter FTSE
* Countrywide, DFS Furniture, Laird, NCC Group will leave
Nov 30 Precious metals mining company Polymetal
International Plc and Travis Perkins Plc,
Britain's biggest supplier of building materials, will drop out
of the benchmark FTSE 100 index and become a part of the
Medical products maker ConvaTec Group Plc and
packaging products maker Smurfit Kappa Group Plc will
replace these companies in the bluechip index. bit.ly/2gJlYVO
In the FTSE midcap index property services company
Countrywide Plc, upholstery retailer DFS Furniture Plc
, wireless parts maker Laird Plc and
cyber-security firm NCC Group Plc will be replaced by
iron ore miner Ferrexpo Plc, real estate company
Newriver REIT Plc and oil exploration company Nostrum
Oil & Gas Plc.
Travis Perkins had warned in October that it would not meet
market expectations for full-year profit, blaming a
disappointing performance in its plumbing and heating business.
Polymetal, which pushed house-builder Berkeley Group
Holdings Plc out of the FTSE 100 index in August, has
been pushed out of the index despite a surge in its share price
as economic uncertainty had driven up the price of gold. The
company's share price had risen just over 30 percent
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, while the
inverse is true if a company falls out of the FTSE 100.
The rankings are decided on market capitalisation. Companies
with the lowest market cap in the FTSE 100 drop into the FTSE
250 mid-cap index, and vice versa.
The changes will be implemented at the close of business
Friday, Dec. 16 and take effect on Monday, Dec. 19.
(Reporting by Sanjeeban Sarkar in Bengaluru; Editing by Shounak