Sports Direct Enters Market's Premier League
Sports Direct and the bottling company, the Coca-Cola HBC have joined the FTSE 100.
In its quarterly review, the London Stock Exchange revealed the companies that were promoted and relegated from the premier league of the London share market.
Serco Group, is to leave the UK's leading index and enter the FTSE 250 Index. The outsourcing company has seen its share price drop by more than 20% since July having been accused of fraudulent conduct over the transportation of prisoners. It is undertaking an internal review into the matter.
Another company demoted in the reshuffle is the Kazakh mining company, Eurasian Natural Resources. It leaves after its minority shareholders accepted an offer from its founders to take the company private.
New entrant Sports Direct is the UK's largest sporting goods retailer and has seen gross profits for the three months to the end of July rise by 23%.
Greek coke bottler, Coca-Cola Hellenic Bottling Group which switched its listing from Athens in April due to lack of liquidity has joined the blue-chip list alongside packaging company Mondi.
Coca-Cola HBC told Sky News:
"Inclusion in the FTSE 100 and FTSE All-Share indices will benefit our shareholders and the company by giving us access to the largest pool of international investors, on the most liquid equity market in Europe.
"This marks another achievement for our organization and we are very pleased with the decision by the FTSE EMEA Regional Committee."
All changes will be implemented at the close of business on Friday, September 20 and take effect from the start of trading on Monday, September 23 2013.