Orange for FT-SE 100
Sunday 09 June 1996
On Wednesday, the committee that oversees the prestigious index of the UK's top 100 companies holds its latest quarterly meeting to elevate at least three hopefuls to its ranks.
After one of the most effective brand marketing campaigns of the Nineties, and a hugely successful flotation in February, Orange now boasts a market capitalisation of more than pounds 3bn. It will leap into 65th place on the FT-SE 100 when the new firms join later this month.
It appears, however, that there will be no such debut for recently privatised Railtrack, whose share price has been stuck ever since the first day of trading. While its market worth of pounds 2.08bn ranks it number 99 among UK firms, the index's rules of inclusion do not guarantee a place to such a marginal contender.
Instead, Orange is likely to be joined by United News and Media, created by the merger of Lord Hollick's MAI with United Newspapers.
Ironically, Securicor, the telecoms and security firm, is also a leading candidate; together with British Telecom, Securicor owns rival mobile operator Cellnet and would be the fifth mobile-phone owner - with Vodafone and Cable & Wireless, which runs Mercury One-to-One - to join the FT- SE 100.
Another place may go to either Lucas Industries, which has been buoyed up by bid speculation, or Next, the high-street clothes retailer - an achievement of a different ilk, marking its return from the doldrums after huge problems at the start of the Nineties.
Orange's FT-SE listing will be a triumph for Hans Snook, its 47-year- old managing director. He has piloted the Hutchinson Telecom/British Aerospace joint venture from the ashes of its disastrous Rabbit portable-telephone venture two years ago to a position where it sells one in every four new mobile-phone accounts. It is the youngest company (excluding privatisations) to make the top 100 since the index began.
The market is a cruel mistress, however. While the champagne corks are popping at Orange, the mood will be less festive for those heading in the opposite direction. The likely casualty list includes Foreign and Colonial, the UK's oldest investment trust, pubs group Greenalls, and oil and gas explorer Lasmo.
Also teetering on the brink are Courtaulds, the chemicals group, and Rexam, the paper and packaging company. If each share price loses between 3 and 5 per cent of its value before close of business on Tuesday, they will also drop. If they do, it will guarantee Next a place in the top 100 for the first time since the George Davies era of the late Eighties.
- 1 Notting Hill Carnival: Woman shares selfie after being ‘punched in face for telling man to stop groping her’
- 2 Joan Rivers: 'Palestinians deserve to be dead'
- 3 Daily Show's Jon Stewart destroys Fox News for its Ferguson coverage
- 4 Botched ice bucket challenge leaves man critically injured after plane drops hundreds of gallons of water
- 5 Friends reunion: Jennifer Anniston, Lisa Kudrow and Courteney Cox perform mini sketch on Jimmy Kimmel Live
Notting Hill Carnival: Woman shares selfie after being ‘punched in face for telling man to stop groping her’
YouTube video posted by Isis militants shows 'execution of 250 Syrian soldiers'
Joan Rivers: 'Palestinians deserve to be dead'
Daily Show's Jon Stewart destroys Fox News for its Ferguson coverage
Botched ice bucket challenge leaves man critically injured after plane drops hundreds of gallons of water
Exclusive: We share blame for creating 'jihad generation', says Muslim strategist
Robin Williams Emmys tribute led by Billy Crystal criticised for including 'racist' joke about Muslim woman
The Rotherham child abuse scandal is a tale of apologists, misogyny and double standards
Scottish independence TV debate: Pumped-up Alex Salmond bounces back in bruising second round against Alistair Darling
Do you realise just how foolish the UK looks?
Ukip Douglas Carswell defection: Tory MP jumps ship to join Nigel Farage
- < Previous
- Next >
iJobs Money & Business
Highly Competitive Salary: Austen Lloyd: CITY - An excellent new instruction w...
£500 per day: Harrington Starr: SQL Server Developer SQL, PHP, C#, Real Time,...
£600 per day: Harrington Starr: C#.NET Developer C#, Win Forms, WPF, WCF, MVVM...