Find out who's in and who's out of the main FTSE indices.
The FTSE indices had their quarterly re-shuffle yesterday (Wednesday), but on the main FTSE 100 index there was only one company entering and one leaving. The surprise for many was that gold producer Petropavlovsk (LSE: POG), formerly Peter Hambro Mining, didn't make the cut.
Large-cap changes
Instead, stepping up to the premier division for the first time is Glasgow-based Aggreko (LSE: AGK), which provides plant for power generation and temperature control. It was founded in 1962 and owned by Salvesen Group from 1984 to 1997. It was then demerged at around 175p per share.
Trading at 800p this morning, the shares have almost doubled in value since February. This is despite a decline in revenues in the third quarter, which was largely due to exceptionally healthy comparative figures in the previous year, when the company supplied power generation to the Beijing Olympic Games, and to storm ravaged areas of North America.
Making way for Aggreko is pest control and washroom supplier Rentokil Initial (LSE: RTO), which has fallen about 20% since its re-admission to the FTSE 100 only three months ago. That said, investors who bought the shares this time last year are still sitting on profits of 200%.
The company, which has been in and out of the main index several times over the years, said revenues for the third quarter were up slightly, but this was a result of the weakness in Sterling; on a constant currency basis, business was down.
FTSE 250
There was more activity in the mid-caps, with two new companies joining the FTSE 250, and another two moving up from the FTSE SmallCap index.
Booker Group (LSE: BOK), which according to its website is "the UK's leading food wholesaler ... [supplying] approximately 296,000 catering businesses and 72,000 independent retailers", joins the FTSE 250 following its migration from AIM to the main market. Its share price has almost tripled from its lows in October 2008.
Also entering the index is the Genesis Emerging Markets Fund (LSE: GSS), an investment trust.
Moving up from the FTSE SmallCap is industrial belt maker Fenner (LSE: FENR), and Unite Group (LSE: UTG), which develops and manages student accommodation. Shares in both companies have rocketed since March, rising roughly five-fold and six-fold respectively.
Dropping down to the FTSE SmallCap are vehicle rental operator Avis Europe (LSE: AVE), insurance underwriters Chaucer Holdings (LSE: CHU), pharmaceutical developer Vectura Group (LSE: VEC), and builder Morgan Sindall (LSE: MGNS).
Whether these changes have any effect on the prices of these shares remains to be seen. I looked at this a couple of years ago.
The changes take effect from the start of trading on Monday 21 December.
More from Padraig O'Hannelly:
