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2w ago

Burberry to Rejoin FTSE 100 Later This Month

The return follows a more than 70% share rally under CEO Joshua Schulman that restored the fashion house’s value to roughly £4.6 billion.

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A Burberry logo displayed outside its store on New Bond Street in London, Britain, July 15, 2024. REUTERS/Hollie Adams/File Photo
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Overview

  • FTSE Russell confirmed the move in its quarterly review, with index changes implemented at the close on Sept. 19 and taking effect on Sept. 22.
  • Metlen Energy and Metals will also enter the FTSE 100 after moving its primary listing from Athens and listing in London last month.
  • Homebuilder Taylor Wimpey and student housing provider Unite Group will leave the FTSE 100 and shift to the FTSE 250.
  • Analysts credit Burberry’s recovery to a refocus on British heritage and flagship outerwear under Schulman’s overhaul.
  • Inclusion is expected to broaden access to passive index-tracking investors, which analysts say could support the share price post-entry.