FTSE 100 demotions and promotions: Paddy Power Betfair and Morrisons eligible to be on the up while Aberdeen Asset Management and Sports Direct eligible for demotion
Morrisons could be returning to the FTSE 100 after just quarter of languishing in the FTSE 250 – but it may edge out Mike Ashley's Sports Direct in doing so.
Morrisons, which yesterday unveiled a major new tie up with Amazon, has seen its share price soar in recent weeks. Shares are up 34 per cent since it fell out of the FTSE 100 in December.
The supermarket delivered better than expected results and investors are said to have more faith in chief executive David Potts' turnaround plan.
Read more: Morrisons makes its move in the supermarket wars
Conversely, Sports Direct's share price has taken a battering, as both investors and consumers turn their backs on the retailer after a succession of negative headlines.
Sports Direct could be joined by Aberdeen Asset Management, while Paddy Power Betfair and Mediclinic have also been confirmed by the London Stock Exchange as eligible for entry into the FTSE 100.
Investors have been left unimpressed by Aberdeen Asset Management's exposure to the slowing Asian end emerging market economies.
Read more: Sports Direct and Aberdeen Asset Management could be demoted in quarterly review
At the last quarterly review supermarket chain Morrisons was kicked out of the FTSE 100, along with Meggitt and G4S.
The companies eligible are indicative positions as of Monday 29 February 2015, with the final decision and approval of changes to be taken this Wednesday, based on data at the close of play on Tuesday.