2nd Jun 2016 06:38
LONDON (Alliance News) - Irish packaging company Smurfit Kappa Group PLC and online trader CMC Markets PLC on Thursday both welcomed their respective inclusions in the FTSE 250 index following the latest quarterly review.
The pair will start trading in the mid-cap index on Monday, June 20.
"We expect our inclusion in the FTSE AllShare to provide an incremental benefit to our shareholders. Over time, our new dual listing arrangement should widen the base of investors eligible to invest in the group while further strengthening the liquidity in our shares," said Smurfit Chief Executive Tony Smurfit. Smurfit recently moved its main listing from Dublin to London, making its inclusion in FTSE indices possible.
"Inclusion in the FTSE 250 Index is another significant milestone for us all at CMC and we look forward to widening our existing strong investor base with new shareholders," said Peter Cruddas, the founder and chief executive of CMC.
The latest changes from the quarterly FTSE index review were announced after the market close on Wednesday. Generic-drug maker Hikma Pharmaceuticals retuned to the FTSE 100, having been relegated in March, and will replace Inmarsat, the satellite communications firm which joined the blue-chip index only a year ago.
Also joining the FTSE 250 are "challenger" banks CYBG, the owner of Clydesdale and Yorkshire banks, and Metro Bank.
By Sam Unsted; [email protected]; @SamUAtAlliance
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