Rentokil and Schroders exit FTSE 100

Two stalwarts of the FTSE 100 Index had their demotion from the top tier of the London stock market confirmed today.

Rentokil Initial and Schroders will exit the FTSE 100 Index on September 15, as part of a quarterly reshuffle which will see insurance group Standard Life and fund manager Resolution promoted to the top flight.

Asset management company Schroders has been in the Footsie since September 1994, while pest control company Rentokil has been a member since 1991. They will move to the FTSE 250 Index.

Southern Cross Healthcare, the residential care home company, will also join the FTSE 250, while military contractor Chemring Group will join the mid cap index, being promoted from the FTSE SmallCap. Interserve, SCI Entertainment Group and GCAP Media will all be demoted to the FTSE SmallCap.

The changes, based on Tuesday night’s closing prices, were confirmed by the FTSE board today.