ITV set to tumble out of FTSE 100 on its 65th birthday

ITV is set to tumble out of the index of Britain’s top 100 companies tomorrow, just as it celebrates its 65th birthday. 

The broadcaster has seen an unprecedented slump in advertising during the pandemic, pushing its shares down by 60 per cent this year. 

Slump: The pandemic has disrupted programmes like I'm A Celebrity, presented by Ant McPartlin and Declan Donnelly

Slump: The pandemic has disrupted programmes like I'm A Celebrity, presented by Ant McPartlin and Declan Donnelly

Slump: The pandemic has disrupted programmes like I’m A Celebrity, presented by Ant McPartlin and Declan Donnelly

Its market value is now just £2.4billion, meaning it will probably slip out of the FTSE 100 tomorrow when a decision is made. 

The pandemic has disrupted programmes like I’m A Celebrity, presented by Ant McPartlin and Declan Donnelly, which this year will be filmed in Gwrych Castle in Wales instead of the Australian jungle. 

Love Island has also been hit. 

Relegation to the FTSE 250 will mean several funds which can only invest in FTSE 100 companies will be forced to sell their shares. 

Budget retailer B&M, which has done well in the pandemic, looks set to replace ITV on the FTSE 100. 

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