Warehouse and data centre investor Tritax Big Box REIT (BBOX) joined the big league with promotion to the FTSE 100. The move was part of the London Stock Exchange’s quarterly review of the large-cap and mid-cap indices.
Winners and losers
Tritax, whose shares are up 13% year-to-date, has a market cap of £4.6 billion. Its promotion marks a milestone as it means there are now seven investment trusts in the big-cap index.
Joining Tritax in the FTSE 100 is online trading platform IG Group (IGG), with a market cap of £4.35 billion. Leaving the index are budget airline Easyjet (EZJ) and property portal Rightmove (RMV), which are demoted to the FTSE 250.
There are four further changes to the FTSE 250, with pet care firm CVS Group (CVSG) and Schiehallion Fund (MNTN) joining. Making way for these new entries are cybersecurity firm NCC Group (NCC) and automotive software provider Pinewood Technologies (PINE).
The changes are indicative and based on the closing prices and market values of each stock as of 20 February. The actual review will be based on closing prices on 3 March with an announcement after-market on 3 March.
Interestingly, infrastructure group Costain (COST) has announced today its shares will be included in the FTSE 250 this month. That implies there could be a further demotion from the mid-cap index when the final list is revealed.
Joiners and leavers
| FTSE 100 Joiners | FTSE 100 Leavers |
| IG Group | Easyjet |
| Tritax Big Box REIT | Rightmove |
| FTSE 250 Joiners | FTSE 250 Leavers |
| CVS Group | IG Group |
| Easyjet | NCC Group |
| Rightmove | Pinewood Technologie |
| Schiehallion Fund | Tritax Big Box REIT |
Source: FTSE Russell
There isn’t much to read into these changes, although they do affect index funds and ETFs. In order to replicate the indices going forward, managers need to re-jig their portfolios which may impact share prices.
There are around a dozen FTSE 100 ETFs alone, with over £27 billion in assets, so it’s big business. There are further half-dozen FTSE 250 ETFs although total assets are only around £3 billion.
Read the press release here: https://www.lseg.com/en/media-centre/press-releases/ftse-russell/2026/ftse-uk-index-series-indicative-review-march-2026
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