The healthcare sector has taken a blow on news that one of its biggest London-listed stocks will be ejected from the FTSE 100 in December following the index’s quarterly reshuffle.

A decline in the valuation of woundcare specialist ConvaTec (CTEC) means the stock will be demoted to the FTSE 250, as there are now other firms in the mid cap index with higher valuations who will be promoted.

ConvaTec has recently been in the headlines after cutting its forecast full year sales growth from 4% to between 1% and 2% as supply issues affected sales in Europe, the Middle East and Africa.

Fast food ordering platform provider Just Eat (JE.) has been promoted to the FTSE 100 alongside health and safety technology group Halma (HLMA) and packaging firm DS Smith (SMDS).

Among the stocks being demoted to the FTSE 250 from the FTSE 100 are support services group Babcock International (BAB) and leisure expert Merlin Entertainments (MERL). (LMJ)

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