Shares fall: Ocado, which joined the FTSE 100 in June 2018, is valued at £3.4bn
Ocado will exit the FTSE 100 after six years.
Global index provider FTSE Russell said the online grocer is set to be ousted when the latest reshuffle takes place in June. The changes will be based on the stock’s closing prices on Tuesday of next week.
Ocado, which joined the FTSE 100 in June 2018, is valued at £3.4bn. But shares have fallen 45 per cent this year, and Ocado Retail, its joint venture with Marks & Spencer, has underperformed.
It also has 8 percent of its shares on loan to short sellers, who will make money if the share price falls.
Wealth manager St James’s Place is also exiting the top tier as it reels from setting aside £426m earlier this year to deal with potential refunds following customer complaints about its service.
Shares have plummeted by more than a quarter.
Darktrace will return to the FTSE 100 index for the first time since it was demoted in December 2021.
But it will be a short stay after it recently backed a £4.2bn bid from US private equity firm Thoma Bravo.
Housebuilder Vistry Group joins the FTSE 100.
The group recently improved its annual profit outlook.