LONDON, Sept 4 (Reuters) - Marks & Spencer, Direct Line and Micro Focus will be relegated from London’s FTSE 100 index from Sept. 23 following the latest quarterly review, the index operator FTSE Russell said on Wednesday.
This is the first time M&A, the 135-year old retailer, will be booted from the blue-chip index since the market’s inception in 1984 and follows a steady decline in its share price as it struggled with stiff competition on the UK’s shrinking high street.
As expected, precious metals mining firm Polymetal , generic drugmaker Hikma and aerospace and defence group Meggitt will replace them, the London Stock Exchange-owned FTSE Russell said.
They have all been in the top 100 index before. (Reporting by Josephine Mason)