Marks and Spencer’s ejection from the FTSE 100 this week means just over a quarter of the index’s founder members remain. It is a statistic that underplays how much UK plc has changed in the 35 years since the creation of the index, which tracks the 100 biggest UK-listed companies by market value. Through the deregulation “Big Bang” of 1986 and the 2008 credit crisis, financial stocks are the proved survivors. Barclays, Legal & General, Lloyds Bank, Prudential, Royal Bank of Scotland and Standard Chartered all remain top-tier members while Midland Bank and National Westminster Bank have been absorbed into HSBC and RBS respectively.
Marks and Spencer’s ejection from the FTSE 100 this week means just over a quarter of the index’s founder members remain. It is a statistic that underplays how much UK plc has changed in the 35 years since the creation of the index, which tracks the 100 biggest UK-listed companies by market value. Through the deregulation “Big Bang” of 1986 and the 2008 credit crisis, financial stocks are the proved survivors. Barclays, Legal & General, Lloyds Bank, Prudential, Royal Bank of Scotland and Standard Chartered all remain top-tier members while Midland Bank and National Westminster Bank have been absorbed into HSBC and RBS respectively.
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