Burberry to likely drop out of FTSE 100 next week
Corrects day to Wednesday, not Thursday, in penultimate paragraph
STOXX 600 up 0.7%
Tech stocks rise
Spirits makers surge
Wall St futures higher
Welcome to the home for real-time coverage of markets brought to you by Reuters reporters. You can share your thoughts with us at markets.research@thomsonreuters.com
BURBERRY TO CHECK OUT OF FTSE 100 NEXT WEEK
With UK's premier index due for a rejig next week, analysts anticipate luxury firm Burberry BRBY.L to face demotion, owing to the sharp drop in its share price recently.
Ahead of a reshuffle next week, Richard Hunter, head of markets at interactive investor, argues that Burberry could be demoted, with its shares now down more than 50% so far this year, the worst on the FTSE 100 .FTSE index.
The luxury group had said back in July that it would report an operating loss for the first half and miss annual profit forecasts, also scrapping this year's dividend to invest in growth.
"A slowdown in consumer demand for luxury goods has weighed on the sector, with Chinese consumers particularly notable by their absence," said interactive investor's Hunter.
The firm had also sacked its CEO and named former Coach boss Joshua Schulman to replace him.
Any company falling to or below the 111 position in the UK FTSE index rankings, which is measured based on market capitalization, is automatically deleted from the FTSE 100. Burberry currently sits at 144.
In a note published last week, Susannah Streeter, head of money and markets at Hargreaves Lansdown, also expected Burberry to lose its position in the FTSE 100.
Analysts expect insurer Hiscox HSX.L to likely graduate to the blue-chip benchmark.
The reshuffle will be based on prices as the markets shuts on Tuesday, September 3, with the announcements made after close of trading on Wednesday, September 4. The changes would become effective on Monday, September 23.
The FTSE 100 .FTSE houses Britain's 100 largest public companies, which global heavyweights like energy firm Shell SHEL.L and lender HSBC HSBA.L.
(Shashwat Chauhan)
*****
THURSDAY'S OTHER LIVE MARKETS POSTS:
STOXX 600 RISES TO 6-1/2 WEEK HIGHCLICK HERE
EUROPEAN FUTURES STEADY AFTER NVIDIA RESULTS CLICK HERE
NVIDIA WATCH PARTY OVER, BACK TO INFLATION VIGILCLICK HERE
Historical investor reaction to Nvidia results https://reut.rs/3Xkoqbm
European equities rise, Wall St futures soft https://reut.rs/4dDD96Y
免責聲明: XM Group提供線上交易平台的登入和執行服務，允許個人查看和/或使用網站所提供的內容，但不進行任何更改或擴展其服務和訪問權限，並受以下條款與條例約束：（i）條款與條例；（ii）風險提示；（iii）完全免責聲明。網站內部所提供的所有資訊，僅限於一般資訊用途。請注意，我們所有的線上交易平台內容並不構成，也不被視為進入金融市場交易的邀約或邀請 。金融市場交易會對您的投資帶來重大風險。
所有缐上交易平台所發佈的資料，僅適用於教育/資訊類用途，不包含也不應被視爲適用於金融、投資稅或交易相關諮詢和建議，或是交易價格紀錄，或是任何金融商品或非應邀途徑的金融相關優惠的交易邀約或邀請。
本網站的所有XM和第三方所提供的内容，包括意見、新聞、研究、分析、價格其他資訊和第三方網站鏈接，皆爲‘按原狀’，並作爲一般市場評論所提供，而非投資建議。請理解和接受，所有被歸類為投資研究範圍的相關内容，並非爲了促進投資研究獨立性，而根據法律要求所編寫，而是被視爲符合營銷傳播相關法律與法規所編寫的内容。請確保您已詳讀並完全理解我們的非獨立投資研究提示和風險提示資訊，相關詳情請點擊 這裡查看。
