Marks & Spencer set to be relegated from FTSE 100 for first time ever

Marks & Spencer is set to be relegated from London’s FTSE 100 index for the first time ever.

According to Reuters, M&S shares where valued at £3.7 billion, making it the 115^th most valuable stock among London-listed companies.

FTSE Russell, the London Stock Exchange-owned index provider, requires companies to be ranked 110 or higher to be part of the FTSE 100 index.

The final results will be based on closing prices on Tuesday 3^rd September, with the results being announced on Wednesday.  It will take effect on September 23^rd.

FTSE Russell said on Monday that the iconic retailer was one of the likely companies to be excluded from the index.