British Land relegated to FTSE 250

IMI promoted

Engineering company IMI will join the FTSE 100 today (1 June) as part of FTSE Russell's June 2023 annual review.

The move comes at the expense of British Land, which will drop from the FTSE 100 and join the FTSE 250. The company's share price fell more than 14% last month alone and more than 13% year-to-date, according to Morningstar data. FTSE Russell launches ESG risk-adjusted index series The changes followed speculation surrounding Ocado's potential demotion from the index. Alongside British Land, five other companies will be added to the FTSE 250 - namely, Capita; Empiric Student Property; Me Group International; North Atlantic Smaller Companies Investment Trust and Tyman. The additio...