21st Apr 2023 13:47
Dowlais Group PLC - engineering group focused on the automotive sector - Dowlais to become a FTSE 250 constituent from next week Tuesday, index operator FTSE Russell says on Thursday. Melrose Industries PLC on Thursday said it completed the demerger of the GKN Automotive, GKN Powder Metallurgy and GKN Hydrogen businesses from the company into Dowlais. Shares in Dowlais were admitted to the premium listing segment of the Official List of the UK Financial Conduct Authority and to trading on the London Stock Exchange's Main Market.
FTSE Russell also says NCC Group Ltd will be downgraded from the FTSE 250 index as a result of the Dowlais inclusion. Also with effect Tuesday, NCC moves to FTSE SmallCap Index.
Current stock price for Dowlais: 125.32 pence, up 6.9%
Current stock price for NCC: 100.94p, up 0.7%
12-month change: down 47%
By Greg Rosenvinge, Alliance News reporter
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