Insurance group likely to be promoted from FTSE 250
Direct Line Group could be promoted to the FTSE 100 large-cap stock index next month, the Telegraph reports.
The newspaper said the insurance group, which was owned by the Royal Bank of Scotland before it was spun off and floated on the stock exchange in October 2012, was the “most likely candidate” for promotion in the index’s quarterly reshuffle in September.
It is currently part of the FTSE 250 mid-cap index.
Entry into the FTSE 100 index is based on a company’s market capitalisation. Based on its current share price, the insurance group has a market cap of roughly £4.3bn.
When it first floated, it had a market cap of £2.6bn.