June 8, 2011 / 4:51 PM / 7 years ago

UPDATE 1-Tate & Lyle to replace TUI Travel in FTSE 100 rejig

(Adds further details, changes in small-cap index)

* TUI Travel demoted from FTSE 100

* Tate & Lyle rejoins blue-chip index after two years

* New World Resources, Perform Group to join FTSE 250 index

By Jon Hopkins

LONDON, June 8 (Reuters) - Travel company TUI Travel TT.L will leave the FTSE 100 index as part of the latest quarterly reshuffle of British indexes, compiler FTSE said on Wednesday.

Food ingredients maker Tate & Lyle (TATE.L) will be promoted from the FTSE 250 .FTMC index as a replacement, re-entering the blue chip index for the first time since March 2009.

TUI Travel shares have fallen around 6 percent over the past quarter, underperforming a 2 percent decline by the FTSE 100 index, amid concern over the impact of unrest in key holiday destinations Egypt and Tunisia, high fuel costs and disruption from further volcanic activity in Iceland.

Tate & Lyle have seen a near 18 percent rise since the previous quarterly review this March, far outperforming a 2 percent rise by the FTSE 250 index.

Tate & Lyle’s shares rose steadily from early March before getting a strong boost at the end of May when full-year results beat market expectations.

The review was based on closing share prices on Tuesday but the changes had to be confirmed by a FTSE committee meeting on Wednesday.

Two other changes are being made to the FTSE 250 index, with recent new issue, digital sports media group Perform Group PER.L, and Czech-based coal mining firm New World Resources NWRR.L joining.

Investment trust Schroder Asia Pacific (SDP.L) and property company Helical Bar (HLCL.L) will be demoted to the FTSE Small Cap .FTSC index.

The index changes will be implemented from the start of business on Monday, June 20. (Additional reporting by Tricia Wright; Editing by Greg Mahlich)

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