FTSE Russell has finally confirmed that Bill "Baby Face" Ackman's Pershing Square Holdings will replace Homeserve in the London's blue chip index.
Admittedly this was foreshadowed in some of today's British newspaper market reports...
Here we go again: Bill "baby-face" Ackman's Pershing Square Holdings is being tipped by brokers as the likely candidate to be promoted to the blue-chip index at the reshuffle next week.
Remember, though, we have been here before. Last quarter dealers predicted Pershing Square Holdings was heading into the FTSE 100 only to miss out at the last minute thanks to some weird re-calculating by FTSE Russell...
Bill Ackman's Pershing Square Holding's misses out on promotion to the blue chip index for the second time in three months thanks to some weird re-calculating by FTSE Russell.
Below is the statement from FTSE Russell, which appears some to be some tacit confirmation of a screw up by the index compiler.
Pershing Square Holdings (UK)
September Review - FTSE UK Index Series
02 September 2020..
There seems to be an awful lot of excitement in the mainstream business press about which companies are going to be promoted to, and demoted from, the FTSE 100 index.
I suppose there are a dearth of corporate stories around given it's the back end of a summer that has also had to contend with a pandemic. So, the latest quarterly reshuffle will help fill some space (and pixels)...