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ITV to rejoin FTSE 100 on back of resurgent ad revenue | ITV to rejoin FTSE 100 on back of resurgent ad revenue |
(about 17 hours later) | |
Broadcaster ITV is one of a number of firms being promoted to the FTSE 100 index of the UK's largest publicly listed companies. | Broadcaster ITV is one of a number of firms being promoted to the FTSE 100 index of the UK's largest publicly listed companies. |
Energy firm Wood Group and fund manager Hargreaves Lansdown will also join the index. | Energy firm Wood Group and fund manager Hargreaves Lansdown will also join the index. |
Promotions and demotions are based on a company's market value. | Promotions and demotions are based on a company's market value. |
Outsourcing firm Bunzl, miner African Barrick Gold and financial services firm Alliance Trust, will fall into the FTSE 250 index. | Outsourcing firm Bunzl, miner African Barrick Gold and financial services firm Alliance Trust, will fall into the FTSE 250 index. |
ITV left the FTSE 100 in 2008 as the financial crisis squeezed its advertising revenues. | ITV left the FTSE 100 in 2008 as the financial crisis squeezed its advertising revenues. |
However the firm recently revealed strong annual pre-tax profits of £286m for 2010, pointing to a recovery in television advertising revenues. | However the firm recently revealed strong annual pre-tax profits of £286m for 2010, pointing to a recovery in television advertising revenues. |
FTSE 100 components form the basis of many pension funds, so promotion to the index often boosts a firm's share price. | FTSE 100 components form the basis of many pension funds, so promotion to the index often boosts a firm's share price. |
All changes in the FTSE quarterly review will take effect from the start of trading on Monday 21 March. |
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