Ferguson Replaced by Harbour Energy in FTSE 100 Index Rebalancing
May 09 2022 - 1:42PM
Dow Jones News
By Anthony O. Goriainoff
Ferguson PLC is being replaced by U.K. oil-and-gas company
Harbour Energy in the FTSE 100 index following the company's
decision to move its main listing to the U.S., FTSE Russell said
Monday.
The U.K.-based plumbing- and heating-supply company, which has
been a member of the top flight since June 2009, will be deleted
from the FTSE 100 index effective May 12.
In March, Ferguson shareholders voted in favor of shifting the
company's primary listing to the New York Stock Exchange from
London. The move, set to take place on May 12, follows a years-long
effort by the company to shed businesses outside of North America.
Following its sale last year of Wolseley, its U.K.-based business
and former namesake, the company is generating all of its revenue
in the U.S. and Canada.
FTSE Russell also said that Petrofac Ltd. will be added to the
FTSE 250 index and deleted from the FTSE small cap index, also on
May 12.
The FTSE 100 is a share index of the 100 most highly capitalized
companies listed on the London Stock Exchange.
Write to Anthony O. Goriainoff at
anthony.orunagoriainoff@dowjones.com
(END) Dow Jones Newswires
May 09, 2022 13:27 ET (17:27 GMT)
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