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TUI Travel slides out of FTSE 100

TUI Travel slides out of FTSE 100

Following a six per cent fall in its share price over the past quarter, tourism giant TUI Travel will fall from the FTSE 100 during the next three-monthly reshuffle.

Its place will be taken by food ingredients maker Tate & Lyle, which is re-entering the blue chip index for the first time since March 2009.

FTSE 100 compilers said TUI Travel shares have fallen six per cent over the past quarter, underperforming a two percent decline by the FTSE 100 index.

Despite narrowing losses during the six months to March 31st, concerns remains over the strength of key holiday destinations Egypt and Tunisia.

Tate & Lyle have seen a near 18 per cent rise since the previous quarterly review this March, far outperforming a two percent rise by the FTSE 250 index.

The index changes will be implemented from the start of business on Monday, June 20th.