Burberry, Rentokil set to join FTSE 100

Burberry, Investec, Segro and Rentokil look set to enter the UK's FTSE 100 index later this month after a quarterly rejig and to replace Thomson Reuters, which is delisting.

Luxury goods group Burberry is set to be determined as the replacement for Thomson Reuters after the market closes on Monday as the company on the FTSE 100 reserve list with the highest market capitalisation at the close of trading on Friday.

This change will become effective on Sept. 10.

In a separate quarterly review of the index, companies outside the FTSE 100 that grow to rank among the 90 largest by market capitalisation are automatically promoted, while the FTSE 100 firms with the lowest value or that fall to 111th spot or below drop into the FTSE Midcap 250 index.

Fund group Investec, pest control group Rentokil, and industrial landlord Segro are set to replace water utility Pennon Group, engineering firm Balfour Beatty and Foreign & Colonial Investment Trust which are the lowest ranked top-flight companies.

Index compiler FTSE will formally announce the changes to the FTSE UK index series after the market close on Wednesday.

The review uses the closing prices from Tuesday, but the changes have to be confirmed by a FTSE committee on Wednesday.

The index changes will be implemented at the start of business on Monday, Sept. 21.

Thomson Reuters is delisting from the FTSE 100 as it said it wanted to simplify its capital structure and eliminate the persistent discount at which the London shares have traded to its North American listings.