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Abrdn to miss out on FTSE 100 promotion

by LLB Editor
30th Nov 22 11:01 am

The FTSE 100 is poised to get its quarterly makeover with asset manager Abrdn set to miss out on an immediate return to the top tier of the London market, based on Refinitiv data.

The quarterly reshuffle decision was calculated on last night’s close.

“After what felt like a symbolic relegation from the FTSE 100, Abrdn shares have seen astrong recovery in recent weeks on hopes the company allergic to vowels has been able to turn the tide on outflows, but it has just fallen short in a bid for index promotion,” said AJ Bell’s Russ Mould.

“Of the names expected to make the move up mining services firm Weir is being rewarded for a more coherent and focused strategy which is beginning to pay dividends for the company.

“Oil prices have been volatile in 2022 and Harbour Energy is turning into a yo-yo stock having already been promoted and demoted this year and is set to go back to the FTSE 250 ranks once again.

“This shows the risks associated with shares in companies reliant on the price of a commodity over which they have no control.”

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