Finance group to be relegated from FTSE 100
Provident Financial's departure from the FTSE 100 will be confirmed later today following the group's catastrophic share price fall last week.
The sub-prime lender saw its shares crash by 75% in hours after revealing a major profits warning, the departure of its chief executive, an FCA investigation and the withdrawal of its dividend.
It ended the day down 66% - losing £1.7bn off its market value - in what is believed to be one of the biggest one-day falls by any FTSE 100 company.
Although its share price has edged up since ... You can carry on reading TheBusinessDesk.com for free, but you have reached the maximum number of pages an unregistered user can view. To register for an account, click here or login below...
