Less than a month after listing its shares in London, Metlen Energy and Metals Plc is on the verge of gaining a place in the UK’s blue-chip stocks benchmark.
The company, whose business includes renewable energy, natural gas trading and aluminum production, will be added to the FTSE 100 Index, most likely at the expense of the gauge’s smallest member, homebuilder Taylor Wimpey Plc, according to an indicative review announced Tuesday by index compiler FTSE Russell.
The changes are subject to a final review that will be based on Sept. 2 closing market values and announced the following day.
Metlen made its debut on the London Stock Exchange on Aug. 4, moving its primary listing from Athens in a switch that some analysts had expected to lead to inclusion in indexes such as the FTSE 100. With a market value of about €7 billion ($8.2 billion), the firm is one of the first to take advantage of new listing rules that allow stocks not denominated in British pounds to be included in FTSE Russell indexes.
Inclusion in the FTSE 100 has the potential to spur increased demand for the shares from index-tracker funds.
Taylor Wimpey is poised to exit the benchmark after a 19% year-to-date drop in its shares reduced its market value to about £3.5 billion ($4.7 billion). The stock sank last month after the homebuilder said it has set aside £222 million to deal with the costs of repairing unsafe buildings, almost double its previous provision.
Taylor Wimpey is one of six stocks slated to be added to the FTSE 250 index of UK midcap stocks, according to FTSE Russell’s indicative review. Others include Johnson Service Group Plc and Oxford Biomedica Plc. Those facing deletion from the FTSE 250 include Asos Plc, Auction Technology Group Plc and Bloomsbury Publishing Plc.
(Bloomberg, August 26, 2025)
