Tech shares to leave Footsie

Computer services group Logica and chip designer ARM Holdings are set to be demoted from the prestigious FTSE 100 Index in next week’s reshuffle, according to figures today.

The two have seen their shares slump in the continuing sell-off among tech shares, and have fallen so far that at tonight’s share prices they would be expelled from the index.

Industrial distributor Electrocomponents will also be pushed out, based on tonight’s price.

Replacing the three are expected to be newly-listed mining company Xstrata, precious metals and industrial materials company Johnson Matthey and paper and plastics firm Bunzl.