Carphone Warehouse ejected from FTSE 100
- Published: 10 September 2008 17:35
- Author: George MacDonald
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- Last Updated: 10 September 2008 17:48
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Carphone Warehouse has been ejected from the FTSE 100, bringing retail's representation on the blue-chip index to the lowest in memory.
Carphone Warehouse's relegation means there are now only six retail constituents of the index, three of which are grocers. Just five years ago, there were 10.
Carphone Warehouse's ejection is symbolic both of the fall from grace of consumer businesses as the credit crunch and pressures on shoppers' disposable incomes take a toll and the changing characteristics of the biggest companies, which have an increasingly international spread.
The new members of the FTSE following today's review include mining company Fresnillo and software firm Autonomy.
Carphone Warehouse's drop into the FTSE 250 was forecast by Retail Week (August 29, 2008).
Carphone Warehouse's demotion will not have any impact on how it is run.
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