Swindon & Wiltshire News
All change on the FTSE
The latest reshuffle of the FTSE 100 Share Index effective this week, reflects, possibly, a change in the investment landscape.
Out go two Russian commodity companies in the form of Polymetal and Evraz. Both companies only joined in December 2011 and, it is fair to say, have never featured widely in Private Client portfolios.
Evraz, the vehicle for Roman Abramovic, has fallen by some 60 percent over the last twelve months and Polymetal, a gold and silver producer, by more than 40 percent.
Both companies form part of the foreign contingent in the benchmark FTSE 100 Index that might be described as ‘overbroked, overhyped and over here’.
Jeffrey, sorry, George Osborne would be delighted to see that their replacements have been the rather more domestically focused: Travis Perkins and Persimmon.
Travis Perkins runs a chain of Builders Merchants around the UK while Persimmon is one of the largest house builders.
If their promotion to the Footsie marks the next step in the ongoing recovery of the UK economy, Number 11 and, by inference, Number 10 will be most grateful.
