Wickes to be promoted to FTSE 250, Mobico expected to fall out

WICKES is poised for promotion to the FTSE 250 in a reshuffle by the London Stock Exchange, while companies such as Mobico, owner of National Express, and Ferrexpo are anticipated to be demoted.

- ELLIOT GULLIVER-NEEDHAM

Wickes has earned its place in the index after its share price rocketed by 35% in the past three months, initiating a £20m share buy-back scheme and witnessing a revival in major ticket sales.

Gamma Communications will also ascend to the FTSE 250, transitioning from the London Stock Exchange's junior AIM market to the main market.

Despite this, shares in the UK-based business call services provider have actually dipped 9% over the last three months.