DFS, Travis Perkins demoted from FTSE

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DFS and Travis Perkins have been demoted from the FTSE 250 and FTSE 100 respectively in the latest stock market reshuffle.

Furniture retailer DFS was ejected despite recently posting strong full-year sales and profits after its majority shareholder slashed its stake in the retailer.

Meanwhile, Travis Perkins – the parent company of home improvement retailers Wickes and Toolstation – dropped out because due a slowdown in the UK property market as a result of the Brexit vote in late June.

Companies listed on the UK stock market are reviewed four times a year.

They are reshuffled among the indexes based on their market capitalisation – a measurement derived from the price of a company’s shares.

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