Low-cost airline easyJet has dropped out of the Ftse 100 after its shares fell to a five-year low.
The Luton-based carrier, which had been a member of the “blue chip” index of leading UK shares for six years, saw its shares fall to £8.50 earlier this month (June) causing the company’s market value to dip to £3.4 billion.
EasyJet was one of two companies, alongside Hikma Pharmaceuticals, to be relegated to the Ftse 250 as part of the London Stock Exchange’s quarterly review of the UK’s listed companies. They have been replaced in the Ftse 100 by JD Sports Fashion and Aveva Group.
Travel and insurance group Saga has dropped out of the Ftse 250 after seeing the value of its shares fall from around £1.20 in February to 42p this week.
Stobart Group, which operates Southend and Durham Tees Valley airports, has also been relegated from the Ftse 250 after its shares tumbled from around £1.50 at the start of the year to £1.02 this week.