The FTSE 100 has received a bruising over the last few weeks, as the coronavirus has continued to take its’ toll on global markets.
Data from the FTSE Russell confirmed that there had been some shifts within the FTSE 100.
Three big names in Kingfisher plc (LON:KGF), TUI AG (LON:TUI) and NMC Health PLC (LON:NMC) were among the most recent departures inside the elite league.
All these firms have seen market turbulence over the last few weeks, and the relegation from the FTSE may hurt these companies.
Stepping inside the FTSE 100, and receiving promotion were Intermediate Capital Group plc (LON:ICP), Pennon Group (LON:PNN) and miner Fresnillo (LON:FRES).
Since the outbreak of the coronavirus – global markets and indices have seen ebbs and flows. However, last week saw the FTSE 100 drop to a twelve month low.
There is no doubt that the coronavirus is still continuing to haunt global stocks, as markets are just about recovering this week from the shocks.
The FTSE 100 is still hovering around the 6,688p figure – a relatively low benchmark considering around ten days ago it was flirting with the idea of hitting 7,042p.
There is still a lot of ground to be made up not just for the FTSE 100, but for global businesses.
The airline industry has arguably been the most hurt, as many firms have resorted to cutting flights due to the coronavirus – notable cancellations came from British Airways who suspended flights to and from China.
Travel restrictions are being imposed by National Governments, and legislators in Parliament are now preparing a legislation pack just in case the coronavirus spreads quicker than can be contained.
Certainly – the FTSE in the short term still could face shocks, but market traders will have to be patient. Immediate recovery is rather speculative, and until the coronavirus situation is under control, global stocks and businesses could be infected.