By Ian Walker
Online grocer and retailer Ocado Group is expected to drop out of the FTSE 100 index as part of the regular quarterly reshuffle next week and be replaced by engineer IMI, FTSE Russell said late Tuesday.
Ocado, which has seen its share price fall 35% for this year to date, has been a member of the index since June 2018 while IMI was last in the index between December 2010 and December 2014. IMI’s shares are up 26% over this year so far.
The indicative data is based on the companies’ closing prices on May 19.
The changes will be announced after the market closes on May 31, based on the companies’ closing share prices the day before.
The FTSE 100 is a share index of the 100 most highly-capitalized companies listed on the London Stock Exchange. Any company that falls to 111th and below is automatically ejected from the top-flight index, while any firm that rises to 90th or above is automatically promoted.
Write to Ian Walker at ian.walker@wsj.com
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