British luxury fashion house Burberry is set to be demoted from the FTSE 100 to the FTSE 250, as part of FTSE Russell’s quarterly review.
The demotion follows disappointing results from the fashion brand, which posted a significant downturn in its performance, as retail revenues plummeted by 22% year-on-year to £458m in the first quarter of 2024, with management signalling the slowdown will continue. In turn, business insurance provider Hiscox will be promoted to the FTSE 100, replacing Burberry. Raspberry Pi, one of the most high-profile IPOs for the London market this year, will join Burberry in the FTSE 250, while Diversified Energy Company will be delegated from the index and join the FTSE small cap. Nick Train s...
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