Business

Thomas Cook set to leave FTSE 100 in latest reshuffle

Thomas Cook sign
Image caption Disruption caused by the volcanic ash cloud cost Thomas Cook £70m

Travel operator Thomas Cook is to drop out of the FTSE 100 in the latest reshuffle of the UK share indexes.

The firm's shares have fallen from 272p to about 195p in the past couple of months, as it battled to cope with the downturn in demand and disruption caused by the volcanic ash cloud.

The London Stock Exchange will also drop into the FTSE 250.

The two groups will be replaced by Indian power group Essar and African Barrick Gold.

The changes were officially announced at the end of Wednesday's trading, and will take effect after the market close on 18 June.

Music and games retailer HMV and newspaper group Trinity Mirror will be relegated from the FTSE 250.

New entrants to the second-tier index will include sportswear retailer JD Sports and fashion chain SuperGroup.

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