Ocado to be relegated from Footsie after six years with stock down 45% this year

Shares down: Ocado, which joined the FTSE 100 in June 2018, is valued at £3.4bn

Ocado is set to drop out of the FTSE 100 after six years.

Global index provider FTSE Russell said the online grocer is poised to get booted out when the latest reshuffle takes place in June. The changes will be based on closing share prices on Tuesday next week.

Ocado, which joined the FTSE 100 in June 2018, is valued at £3.4billion.  But the stock has tumbled 45 per cent this year, with Ocado Retail, its joint venture with Marks & Spencer, underperforming. 

It also has 8 per cent of its stock out on loan to short sellers, who will make money if the share price falls.

Wealth manager St James’s Place is also dropping out of the top tier as it reels from setting aside £426million earlier this year to deal with potential refunds following customer complaints over its service. 

Shares have plunged by more than a quarter.

Darktrace will return to the FTSE 100 index for the first time since being demoted in December 2021. 

But it will be a short stay after it recently backed a £4.2billion offer by US private equity firm Thoma Bravo.

Housebuilder Vistry Group is joining the FTSE 100. 

The group recently upgraded its annual profit outlook.

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