Marks & Spencer chairman Archie Norman has said he is unperturbed by the British...
) chairman Archie Norman has said he is unperturbed by the British retailer’s share price slide, with his focus on the long term, but relegation from the prestigious FTSE 100 index is a symbol of its decline.
M&S will be ejected in a quarterly reshuffle of the London index, according to Reuters calculations based on Tuesday’s closing share price of 187 pence, which gave it a market value of 3.64 billion pounds . Though largely symbolic, this will see M&S sold by funds which seek to replicate the FTSE 100 by buying its constituents. It would, however, be bought by FTSE 250-tracker funds.
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