The flow of money out of consumer-related industries and into resources was reflected in the quarterly reshuffle of the index of the UK’s 100 most valuable quoted companies.

Ukrainian iron ore producer Ferrexpo and oil services company Petrofac were confirmed as new entrants, along with coal-fired power station Drax Group and engineering group Invensys.

Making way were housebuilder Persim­mon, mortgage bank Alliance & Lei­cester, Argos and Home­base owner Home Retail Group and sugar and ingredients firm Tate & Lyle.

Ferrexpo extends the Footsie’s colonisation by overseas resources firms.

Mexican silver miner Fresnillo had the necessary market value to join but its shares had not been trading long enough in London to qualify.

Relegation from the blue-chip index deals a blow to a company’s prestige and they disappear from the radar of some tracker funds.


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