Eight new economy firms replaced by old economy stocks in the FTSE 100
New economy stocks have suffered further indignation as the FTSE carried out its quarterly rebalance. Eight more new economy stocks have been sanctioned to drop out of the FTSE 100 at close on 21 September and will be replaced by old economy businesses. Carlton Communications, Misys, CMG, Colt Telecom, Telewest, Energis, Spirent and Marconi have all been demoted to the Mid 250 on the back of poor stock market performance this year. Kevin Fenelon, investment manager at Britannic Asset Management, said that although the stocks will be sold off by tracker funds in the short term, it does...
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