Plasterboard maker BPB and property company Hammerson - part of the Birmingham Alliance consortium behind the Bullring - will be promoted to the FTSE-100, the FTSE index compiler has confirmed.
They will replace steel maker Corus and packaging company Bunzl. FTSE rejigs the key index four times a year to ensure it represents Britain's biggest companies, with changes based on the market capitalisation of eligible stocks. The latest reshuffle was based on share prices at Tuesday's close and will take effect on June 20.
The index compiler said that IG Group and F&C Commercial Property Trust would join the FTSE-250 mid-cap index, replacing reinsurer Alea Group Holdings ( Bermuda) and media group SMG.