Scandal-hit NMC Health booted out in FTSE 100 reshuffle

Following months of turbulent trading, NMC Health is all set to lose its spot on the prestigious FTSE 100.

It will be expelled from the blue-chip index this month in the next reshuffle, which is based on last night’s prices.

FTSE Russell conducts a reshuffle every quarter to ensure major indices contain the biggest firms by market value.

NMC has had a stunning fall from grace, losing around two-thirds of its value following questions raised by US short-seller Muddy Waters about the private hospital group’s financial health.

Companies already in the FTSE 100 must at least be in the 110 biggest firms on the London Stock Exchange’s Main Market to stay, while a company can be promoted if it rises to 90th place or higher.

NMC shares, which are suspended from trading, were worth 938.4p last night, valuing it at £2billion and making it, roughly, the 176th biggest firm.

https://www.thisismoney.co.uk/money/markets/article-8071483/MARKET-REPORT-NMC-Health-booted-FTSE-100-reshuffle.html