Two Scottish companies could re-join the stock market’s blue chip index after a strong recovery in their value.

Asset manager Abrdn and the mining technology company Weir Group could be back in the FTSE 100 at the next re-shuffle.

It will be based on market capitalisations on 29 November (announced 30 November), with changes taking effect after the close of business on 16 December.

Edinburgh-based Abrdn’s share price is down 18.2% year-to-date (YTD), and it was ejected from the index in September after its value plunged below £3 billion, a far cry from the £11bn valuation when the company was formed by the merger of Standard Life and Aberdeen Asset Management.

Since its relegation the shares have risen 43%, pushing its value above £4bn, which puts it significantly ahead of Harbour Energy (£2.6bn), Dechra Pharma (£3.1bn), and Intermediate Capital (£3.4bn).

Susannah Streeter, senior investment and markets analyst at Hargreaves Lansdown, said optimism about the company’s prospects appeared to have bee restored, despite some recent bad press around CEO Stephen Bird’s strategy.

It also suffered £36bn of net outflows in the first six months of the year, largely due to Lloyds pulling £25bn worth of pension mandates, which had been previously flagged.

There are rumours that Mr Bird, who has restructured the business, is planning to sell its £13bn private equity business.

Hargreaves believes that Glasgow-based engineering firm Weir Group is also a contender for promotion from the FTSE 250. It is currently valued at £4.7bn.