By Elena Vardon
Coca-Cola Europacific Partners will be joining the FTSE 100, replacing British Land in London's blue-chip index's quarterly reshuffle.
The bottling company--which houses the Coca-Cola, Fanta, Sprite and Monster brands--will join the top flight for the first time on March 24, the global index provider FTSE Russell confirmed on Wednesday.
U.K. real-estate company British Land will be dropped from the index. It had rejoined the FTSE 100 in September after falling from it in June 2023 after a near 22 year stint. The group will be relegated to the FTSE 250 index, along with Close Brothers and THG while Essentra, SThree and John Wood Group will be deleted from the mid-cap index.
Coca-Cola Europacific shares are currently up 2.9% in the year to date--following a 5.5% drop on Wednesday--and 22% higher over the past 12 months. British Land shares are down 3.7% and 3%, respectively.
The changes were outlined after market close on Wednesday and are based on the companies' closing share prices the day before. The quarterly changes will be applied after close of business on March 21 and effective the following Monday.
The FTSE 100 is a share index of the 100 most highly capitalized companies listed on the London Stock Exchange. Any company that falls to 111th and below is automatically ejected from the top-flight index, while any firm that rises to 90 or above is automatically promoted.
Write to Elena Vardon at elena.vardon@wsj.com
(END) Dow Jones Newswires
March 05, 2025 12:59 ET (17:59 GMT)
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