Punch Taverns and Mitchells & Butlers predicted to join FTSE 100
Pub groups Punch Taverns and Mitchells & Butlers look likely to be promoted to the FTSE 100 when the next quarterly review takes place on 7 March , financial analysts have predicted.
Punch recently reported better-than-expected figures, but the main driver of share price growth was its announcement that it wants to turn itself into a property trust, said the Edinburgh Tracker Team at Aberdeen Asset Managers.
Turning itself into a real estate investment trust, could bring a £750m windfall for shareholders, the analysts said.
At current levels, M&B sits near the top the "new" FTSE 100 reserve list when published on 7 March and should gain entry as takeovers become effective through April, Aberdeen said.
Punch Taverns signs 300th lease agreement >>
Punch Taverns to report a rise in sales after acquisitions >>
Mitchells & Butlers sells group of community pubs for more than £100m >>
Food sales soar at Mitchells & Butlers' Scottish pubs >>
By Daniel Thomas
E-mail your comments to Daniel Thomas](mailto:daniel.thomas@rbi.co.uk?subject=Punch Taverns and Mitchells & Butlers to join FTSE 100) here.
Get your copy of Caterer and Hotelkeeper every week -
|
|