• Text size      
  • Send this article to a friend
  • Print this article

Royal Mail joins the FTSE-100

Royal Mail joined the FTSE-100 yesterday after a privatisation that has seen its value soar by 80%.

It entered the index with a market value of just under £6 billion, having been floated for £3.3bn.

This surge led to accusations that it had been sold off on the cheap, although this was dismissed by Business Secretary Vince Cable.

The other newcomer is Ashtead, with chemicals group Croda International and miner Vedanta Resources relegated from the shares premier league. The reshuffle was based on the closing prices of companies on December 13.

Royal Mail's life as a top-flight company began in lackluster fashion as its shares opened lower at 589p amid thin pre-Christmas trading.

Contextual targeting label: 

Commenting & Moderation

We moderate all comments on HeraldScotland on either a pre-moderated or post-moderated basis.
If you're a relatively new user then your comments will be reviewed before publication and if we know you well and trust you then your comments will be subject to moderation only if other users or the moderators believe you've broken the rules

Moderation is undertaken full-time 9am-6pm on weekdays, and on a part-time basis outwith those hours. Please be patient if your posts are not approved instantly.