Three foreign firms promoted to FTSE 100

By @ibtimes on

Recently listed Russian steelmaker Evraz , Russian precious metals miner Polymetal International and Irish building materials group CRH will join the FTSE 100 index <.FTSE>, FTSE Group said on Wednesday.

Satellites operator Inmarsat , South Africa-based investment bank Investec and platinum miner Lonmin will be demoted to the FTSE 250 <.FTMC> index to make way for the foreign entrants.

Companies outside the FTSE 100 that grow to rank among the 90 largest by market capitalisation are automatically promoted to the blue-chip index.

FTSE 100 firms with the lowest value, or that fall to 111th spot or below, drop into the FTSE 250.

Two other changes will be made to the FTSE 250, with recently listed Indonesian resources firm Bumi set to join alongside John Laing Infrastructure Fund , which has been promoted from the FTSE Small Cap <.FTSC> index.

Mother-and-baby products retailer Mothercare , TV-decoder maker Pace , food producer Premier Foods , tour operator Thomas Cook Group and staffing firm SThree will drop into the FTSE Small Cap index.

The quarterly review used the closing prices from Tuesday, with the changes confirmed by a FTSE committee on Wednesday.

The index changes will be implemented from the start of business on Monday, December 19.

(Reporting by Jon Hopkins; Editing by David Hulmes)

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