Retirement home builder McCarthy & Stone will drop out of the FTSE 250 in the latest quarterly reshuffle of companies in the stock market index.
The company has lost almost half of its value so far this year. It will leave the FTSE 250 index, in which listed companies are ranked by market capitalisation, on 22 June.
Pub owner Marston’s is also leaving the FTSE 250, while FTSE 250 member Derwent London has been placed on a “reserve list” for the FTSE 100.
McCarthy & Stone recently secured £300m under the Covid Corporate Financing Facility initiative set up by the government and Bank of England, and is now launching a phased reopening of its sales offices and construction sites closed during the coronavirus crisis.
The company said ahead of the UK lockdown that the pandemic would have “an inevitable material impact on trading”. It will publish results for the six months to 30 April on 15 July.
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