Tech companies to suffer again in FTSE100 review
Marconi obviously, but what about Telewest, CMG, Energis...
Yet more technology companies are to be kicked out of the FTSE100 index next week as part of the regular review.
Okay, so this is a piece of anti-news* but following yesterday's total collapse of Marconi shares, it has become clear that the former giant is to be removed from the listing for the first time since the index's inception in 1984.
Not only that, but as with every other review in recent times, yet more technology companies will be removed and replaced with companies from old-skool industries.
Among the suspected drop-outs are Telewest, the UK's second-biggest cable company; Energis; Misys, which has been in and out the index for two years now; CMG, which does text messaging software; and Colt Telecom, a telco which fronted the local-loop battle against BT. ®
* Anti-news: The increasing reliance on news agencies to write news stories about things that are about to happen as opposed to waiting for them to actually happen. This skewed approach to news enables companies feel they are leading the competition and is widely abused by PR agencies who give "exclusives" as a thankyou to favourable reporters and as a carrot to others.