M&S Set to Rejoin FTSE 100 After Four-Year Hiatus
Marks & Spencer looks set to reclaim its position in the FTSE 100, marking the end of its four-year break from the UK’s primary stock index.
According to estimates from Numis analyst Sam Murphy, when FTSE Russell unveils its anticipated adjustments post-market close today, the retail giant is among four firms expected to join the index. The other three contenders transitioning from the FTSE 250 midcap rank include Hikma Pharmaceuticals, Dechra Pharmaceuticals, and the speciality seal producer, Diploma.
These newcomers are anticipated to replace Johnson Matthey, the conglomerate; Abrdn, the asset management firm; Persimmon, the home construction company; and RS Group, which manufactures electronic components.
The FTSE 100 is designed to represent the top 100 UK companies by market capitalization.
For Marks & Spencer, this resurgence in the FTSE 100 serves as a testament to its ongoing recovery in the UK retail sector.
The company’s stocks have surged by 78% this year, with CEO Stuart Machin steering a comeback—a sentiment reinforced when M&S recently revised its forecasts upwards.
The final roster adjustments, based on the closing rates from August 29, will be disclosed post-market close on August 30.
