Fraser’s Group, the retail giant controlled by Mike Ashley, and the discounter B&M are to be relegated from the UK’s top flight share index.
FTSE Russell, which operates the FTSE 100 and FTSE 250, confirmed on Wednesday evening that its latest quarterly review would see Sports Direct-led Frasers drop down to the lower tier for the first time in eight years.
It has been in the FTSE 100 since 2022 but its shares have been losing ground for months amid a feud with the online fashion firm Boohoo, in which Frasers has a significant stake, that has centred on its leadership.
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Also facing the drop, FTSE Russell said, were B&M and the housebuilder Vistry – the latter a combination of Bovis, Linden and Countrywide.
The three firms replacing them in the FTSE 100 were Games Workshop, St James’s Place and Alliance Witan.
The moves, which take effect on 23 December, are…
