Persimmon is likely to drop out of the FTSE 100 next week for the first time in a decade.
FTSE Russell, the index provider, will reveal its latest quarterly reshuffle on Wednesday 30 August. Based on data drawn from the market close on Friday, Persimmon, as well as Abrdn, are expected to be demoted to the FTSE 250.
The housebuilder joined the top tier of the London Stock Exchange in 2013, the same year that the then chancellor George Osborne set up Help to Buy.
Persimmon’s market value has since swelled from around £3.2bn to more than £10bn, and then shrunk back again.
Its latest report said completions are expected to be 40% lower than last year, exacerbated by rising costs and a dysfunctional planning system.
Abrdn also faces relegation from the FTSE 100, for the second time in 12 months. The £496bn AUM Edinburgh-headquartered asset manager has seen its share price drop by around 15% and its market cap fall by more than a quarter to £3bn.
Marks & Spencer is expected to fill the gap, returning to the FTSE 100 after a four-year absence.
Warehouse REIT is expected to be ejected from the FTSE 250, as is London-based asset manager Liontrust.
To send feedback, e-mail piers.wehner@eg.co.uk or tweet @PiersWehner or @EGPropertyNews
