Marks & Spencer returns to FTSE 100 while Abrdn and Persimmon get the boot

For free real time breaking news alerts sent straight to your inbox sign up to our breaking news emails Sign up to our free breaking news emails Sign up to our free breaking news emails SIGN UP I would like to be emailed about offers, events and updates from The Independent. Read our privacy policy Marks & Spencer has climbed back on to the UK’s FTSE 100 four years after dropping off the top stock index, while housebuilder Persimmon has been demoted following a rocky patch for the housing market. Despite the cost-of-living crisis with consumers feeling the squeeze, M&S has been the star performer across UK retail this year Victoria Scholar, head of investment at Interactive Investor It comes at a time of optimism for the historic high street retailer, which recently upgraded its profit outlook thanks to “strong trading”, having increased market share in both its clothing and home, and food, businesses. Victoria Scholar, head of investment at Interactive Investor, said: “Despite the cost-of-living crisis with consumers feeling the squeeze, M&S has been the star performer across UK retail this year, outshining rivals with a stellar share price gain of over 75% so far this year, compared to Next for example, which is up around 17%. “The analyst community are getting behind M&S’s turnaround, with several price target upgrades in August, including from Goldman Sachs, Deutsche Bank, Barclays and Credit Suisse, providing a further vote of confidence in the retail giant.” Drug makers Dechra Pharmaceuticals and Hikma Pharmaceuticals and products supplier Diploma will also join the FTSE 100 after seeing their shares rise in value.