Going down: Stagecoach Hldgs

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The Independent Online
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.

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.