FTSE shake-up: Aberdeen out, Morrisons in

Martin Gilbert BBCAberdeen Asset Management and Sports Direct will be removed from the FTSE 100 index, while Morrisons tops a good week by making a return.

Aberdeen, led by Martin Gilbert, has had a tough 18-months which has seen some £30 billion pulled from its funds by investors wary of their underperformance. Analysts have forecast outflows this year could reach £21bn.

The stock is down 9.9% on the year to date.

Sports Direct, the discount sports retailer founded by billionaire Mike Ashley, also drops out in the quarterly reshuffle, and will be joined by Smiths Group, and Hikma Pharmaceutical in the FTSE 250.

Informa, Mediclinic and Paddy Power will join Morrisons in top index.

All constituent changes will be applied after the close of business on 18 March and will be effective from 21 March.

The FTSE 250 index has lost Enterprise Inns, Nostrum Oil & Gas, 888 Holdings and Poundland Group, which are replaced by Paysafe Group, KAZ Minerals, McCarthy & Stone and Softcat.

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