Marks and Spencer, a bastion of the UK high street, is expected to be expelled on Wednesday from the FTSE 100, the group of the country’s biggest listed companies.
M&S’ relegation would mark the first time the bellwether retailer has traded outside of the index of top 100 listed UK companies in the 35 years since it was launched.
If it is demoted, it will be the first time M&S has not been a FTSE 100 member since the index was launched in 1984.
The food and fashion giant has had a hard year, with its shares down 40%.
Its all-important clothing business has continued to struggle, and its food business has shown signs of weakness.
The FTSE 100 contains the 100 largest UK-listed firms, ranked by market value. Membership of the index is seen as a mark of prestige.
Via The Financial Times /The Independent
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