Housebuilder follows Barratt from top table of investment market amid nerves over property slowdown
Taylor Wimpey has been demoted from the FTSE 100 index.
Its new position was confirmed after a quarterly review of FTSE’s UK Index Series yesterday. At the end of trading on Tuesday the house builder was ranked 122 in the FTSE index. The change in its status will come into effect from 26 March.
Taylor Wimpey’s relegation has been attributed to growing uncertainty in the property market. It follows fellow house builder Barratt Developments which was demoted from the FTSE 100 in December last year.
Wolseley and Persimmon are now the only companies in the sector that remain in the FTSE100.
Rentokil and Yellow Pages parent company Yell also slipped from the top 100 at the quarterly review. The three companies’ places have been taken by miners Eurasian Natural Resources, food group Tate & Lyle and aerospace company Cobham.