New listings on FTSE 100, none of them London-based
London's benchmark index, the FTSE 100, is starting to look distinctly foreign after three more firms from abroad get promoted to the top rank.
London's benchmark index, the FTSE 100, is starting to look distinctly foreign after three more firms from abroad get promoted to the top rank.
Irish construction firm CRH, along with two Russian miners, namely Evraz and Polymetal, will be replacing bank Investec, satellite group Inmarsat and mining firm Lonmin on 16 December.
Speaking out on the issue of the rising number of foreign-based firms admitted to the UK's main index, Keith Bowman, equity analyst at Hargreaves Lansdown stockbrokers, has said: "The inclusion of foreign firms is muddying the waters of what the FTSE 100 represents."
Subscribe to MoneyWeek
Subscribe to MoneyWeek today and get your first six magazine issues absolutely FREE
Sign up to Money Morning
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
Other leading foreign companies on the FTSE 100 included a number of miners, namely ENRC, Kazakhmys and Xstrata.
The recent evaluation of the Footise also saw troubled firms Premier Foods, Thomas Cook and Mothercare downgraded from the FTSE 250 to the FTSE Small Cap index.
-
FTSE 100 hits record highs – why is it rising and will we see more gains?
Advice UK equities have been described as unloved for a long time but as the FTSE 100 hits new highs, we explain if now is the time to buy British.
By Marc Shoffman Published
-
How to invest in copper
It may be time to invest in copper as the red metal appears poised for a big jump. Dominic Frisby looks at what should investors should buy
By Dominic Frisby Published