Appetite for takeaway makes Just Eat FTSE 100 candidate

LONDON: The UK’s penchant for takeaway food may propel restaurant delivery firm Just Eat Plc into the benchmark FTSE 100 stock index after surging more than threefold since its April 2014 initial public offering.

Just Eat’s market capitalisation of about £5.6bil may qualify the stock to enter the FTSE 100 Index next month, the London Stock Exchange Group said on Monday.

The London-based company has leapfrogged supermarket chains J Sainsbury Plc and Wm Morrison Supermarkets Plc along the way.

Its meteoric rise has come despite stiff competition from much larger rivals such as Amazon.com Inc and Uber Technologies Inc, the loss of two top executives within months and the regulatory rigour that comes with an upstart shaking up traditional markets.

Not to mention the confidence-eroding political backdrop of Brexit.