FTSE RELEGATION FEAR FOR PROVIDENT

Crisis-hit Provident Financial risks further humiliation by being dumped from the club of Britain’s biggest firms. The doorstep lender could be demoted from the FTSE 100 at a quarterly shake-up next week, according to the Share Centre.

The FTSE 100 is made up of the country’s biggest listed companies by stock market value. Provident saw its share price collapse after issuing a profit warning earlier this week

However, they bounced back 22% yesterday after Provident named a new managing director for its beleaguered home credit arm.

The Share Centre reckons another company in danger of leaving the FTSE 100 is postal firm Royal Mail – four years after its controversial privatisation.

Housebuilder Berkeley Group is among those in the running to take its place.