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EasyJet, Carnival ejected from UK's top share index, Avast steps up

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FILE PHOTO: Spread of the coronavirus disease (COVID-19) in Geneva
FILE PHOTO: Spread of the coronavirus disease (COVID-19) in Geneva

(Reuters) - Britain's FTSE Russell has confirmed that EasyJet <EZJ.L> and cruise operator Carnival PLC <CCL.L> will exit Britain's top blue-chip share index <.FTSE>, as the value of their stock dropped below the required threshold due to the coronavirus.

Utilities provider Centrica <CNA.L> and engineering firm Meggitt PLC <MGGT.L> will also exit the FTSE 100 index and move to the mid-cap FTSE 250 index <.FTMC>, the bourse operator said in a statement on Wednesday. Source Text https://content.ftserussell.com/sites/default/files/press-archive/FTSE%20UK%20Series_Index%20Review_%20Q2%202020.pdf?_ga=2.12546996.1256569585.1591201792-702431581.1591097302

Software maker Avast PLC <AVST.L>, gaming company GVC Holdings <GVC.L>, and home product makers Homeserve <HSV.L> and Kingfisher <KGF.L> will join the FTSE 100 as part of a quarterly index rebalancing.

EasyJet has lost nearly 45% of its value this year, while Carnival is down more than 67% with travel almost at a halt during pandemic lockdowns.

The changes will come into effect from the start of trading on June 22, FTSE said.

(Reporting by Ambar Warrick in Bengaluru; Editing by Kirsten Donovan)