High exposure to momentum in FTSE 100

The FTSE 100 will have close on a 40% exposure to telecom, media and technology stocks this week, writes Jane Wallace. Once the index is rebalanced at the close of business on 17 March with nine new entries and nine departures, the result will be an increase in the volatility of the blue chip index according to Stewart Breed, quantitative analyst at Salomon Smith Barney. On that day Cable & Wireless, Freeserve, telecoms firm Thus, Baltimore Technologies, Psion, biotechs Nycomed Amersham and Celltech Group, support services company Capita Group and EMAP will be included in the FTSE 100. T...