Stagecoach, Britain's biggest bus and railroad company, has slumped 13.3 per cent in the year to date, and now ranks 103rd by market capitalisation.
SHARES in Stagecoach Holdings fell 7 per cent after the company was pushed out of the UK's benchmark stock index by three newcomers. It was reshuffled in a regular quarterly review of the FT-SE 100 index by FT-SE International, the company that determines the indexes. For inclusion in the FT-SE 100, a firm must have a market cap above the 90th-largest firm already in the index. For removal, a firm must have a market cap below the 111th largest company in the UK, or be overtaken by new entrants.