Lastminute and QXL relegated from FTSE technology index
Online retailer Lastminute.com and internet auction company QXL.com have been dropped from the FTSE Techmark 100 index.
LONDON (Brand Republic) - Online retailer Lastminute.com and internet auction company QXL.com have been dropped from the FTSE Techmark 100 index.
The two companies were relegated from the index because of the plunging value of their share price. Also expelled were Easynet, Horizon Technology, Eyretel, Lynx Group, Dataflex Holdings, ITnet, and Amstrad.
Lastminute.com’s share price has nose-dived from 380p at its flotation in March, to 79.50p at open of trade this morning. This means that the company’s market capitalisation is not large enough to be included in the index, which lists high-growth technology and internet companies.
QXL.com opened at 14.25p this morning, a significant drop from its year high of 800p.
Making it into the Techmark index for the first time are Autonomy, nCiper, Whatman, Indigo Vision Group and TTP Communication. They will join the index when the changes take effect after the close of business on Friday.
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