ITV tuned for FTSE 100 return
ITV could return to the FTSE 100 next week, as part of the quarterly update of the UK leading shares index.
The reshuffle, which will take place on Friday, could see the broadcaster return to the FTSE 100 after an absence of more than two years.
ITV was relegated from the FTSE 100 under the leadership of Michael Grade, who also oversaw a sharp decline in its audience figures and advertising revenues.
One firm that is almost certain to be promoted to the FTSE 100 is engineering group IMI, which produces valve and control systems, fluid control systems and beverage dispensers for bars. IMI’s place among Britain’s elite 100 listed companies is likely to come at the expense of mining group African Barrick Gold, tipped in the City to drop down to the FTSE 250.
Other possible relegations are defence group Cobham, packaging giant Bunzl and Alliance Trust.
Also at risk is package holiday giant TUI Travel, which last week said that while full-year revenues fell marginally to £13.4 billion, it had made a pre-tax loss of £36 million.