Blue-chip expellees fall as FTSE review looms

The FTSE 100 drifted lower, taking its losing streak into the third successive session, with the stocks most at risk of relegation at the next quarterly reshuffle suffering stand-out losses.

The next review of its constituents will be based on today's closing prices and will be confirmed before the start of trade on Wednesday.

Evraz, the Russian steelmaker which has lost more than 40 per cent during the calendar year and is on course to drop to the FTSE 250, fell a further 2.6 per cent to 121.4p.

Polymetal, the Russian goldminer, fell 1.6 per cent to 634.4p. It is also set to leave the FTSE 100, having lost 45 per cent in 2013 to the close of the previous session.

Overall, London's main index was 33 points weaker at 6,366.33, a loss of 0.6 per cent led by miners and banks at sector level. Only a dozen of its constituents were not making losses in early trade.

There were eye-catching losses on the FTSE 250 for Dialight after the signals maker said its interim sales would fall. Shares in the maker of warning beacons used on potential obstructions to air traffic fell 14 per cent to £11.46, even as it predicted a recovery in the second half.

It was the biggest loss on the mid-cap index, but not by much.

FirstGroup, the bus and train operator, lost 11.9 per cent to 108.1p after 722m new shares from its rights issue were admitted to the London exchange.

Overall, London's mid-cap index was 75 points weaker at 13,949.15, a loss of 0.5 per cent.

© The Financial Times Limited 2013. All rights reserved.
FT and Financial Times are trademarks of the Financial Times Ltd.
Not to be redistributed, copied or modified in any way.
Euro2day.gr is solely responsible for providing this translation and the Financial Times Limited does not accept any liability for the accuracy or quality of the translation