Richard Morley: Royal Mail 'shoo-in' to join FTSE 100
Royal Mail is set to join the FTSE 100 on 23 December 2013. Valued at around £6bn, it looks set to be in the bottom half of the index, which lists the 100 biggest companies.
Richard Morley, an investment manager at Brewin Dolphin, told the Today programme's Simon Jack that Royal Mail is a "shoo-in" to join the FTSE 100.
"It is certainly one of the largest companies to come to the market in recent years," he added.
However, when asked whether Royal Mail's promotion to the FTSE 100 would further inflate its share prices, Mr Morley predicted this would be unlikely, as its appearance on the list had already been expected - giving funds time to invest beforehand.
First broadcast on BBC Radio 4's Today programme on Wednesday 11 December 2013.
11 Dec 2013
- From the section Business