GVC returns to FTSE 100 after 15-month absence
London-listed operator leaps into top rankings as 888 climbs into FTSE 250
GVC has re-entered the FTSE 100 for the first time since March 2019 to end a 15-month absence from the blue-chip index.
Following its spell outside the top-tier ranking system after a previous stint from June 2018 to March 2019, GVC has returned to the upper echelon index, with its share price hitting 841.8p this morning following the news.
Changes to the index will be implemented on 19 June and will come into effect from the start of trading on 22 June.
In a statement, FTSE said: “FTSE Russell, the global index provider, confirms today that Avast, GVC Holdings, Homeserve and Kingfisher will be joining the FTSE 100 Index as a result of the June 2020 quarterly review.
“The rules-driven, impartial quarterly reviews ensure the indexes continue to portray an accurate reflection of the market they represent and form an essential component to the management of the indexes,” the statement continued.
Elsewhere, 888 Holdings is set to enter the FTSE 250, the index for the 101st to the 350th largest companies listed on the London Stock Exchange.
Finally, GVC is in line to receive up to £200m in incorrectly charged VAT on its FOBT portfolio following the end of HMRC’s tax case appeal.