Dixons Carphone has been demoted from the FTSE 100 after its stock price plunged amid rising import costs and increasing online competition.

The electrical and mobile phones retailer will be downgraded from the top tier to the FTSE 250 as part of the FTSE Russell EMEA Committee’s quarterly review of listed firms.

Companies listed on the UK stock market are reviewed four times a year and reshuffled among the FTSE indexes based on their share price and market capitalisation.

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Dixons Carphone shares have dropped by almost 20 per cent over the past six months – from around 389p in early September to around 310p.

Analysts have put this down to a increasing competition from online retailers within the electricals sector, especially Amazon.

Higher import costs following the post-Brexit devaluation of the sterling have also impacted the company.

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