Bloomberg News

Daily Mail to Replace Cairn Energy in FTSE 100, FTSE GROUP Says

March 07, 2007

Daily Mail & General Trust Plc (DMGT), publisher of the U.K.'s Daily Mail newspaper, will replace Cairn Energy Plc (CNE) in the FTSE 100 Index, FTSE Group said.

The announcement was made in an e-mailed statement after the close of trading today. Companies automatically join the index if they are among the 90 biggest in Britain by market value when the review occurs. Companies that rank 111th or lower are removed from the measure.

Joining an index such as the FTSE 100 can boost a company's stock price because funds that mirror it buy shares of the members. About 30 billion pounds ($54 billion) track the FTSE 100, according to Citigroup Inc.

Changes to the FTSE 100 are based on yesterday's closing price and will effect on March 19.

To contact the reporter on this story: Sarah Jones in London at sjones35@bloomberg.net

To contact the editor responsible for this story: Balduin Hesse at bhesse2@bloomberg.net.


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