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3i and Wood set to be replaced in FTSE 100 by Ashmore and Bunzl

3i and oil services business John Wood are set to be ejected from the FTSE 100 after the latest quarterly reshuffle of the leading index.

3i slipped 0.8p to 197p despite some last minute help from joint house broker BarCap, which raised its rating on the investment group from equalweight to overweight, although it cut its price target from 333p to 270p.

Wood edged up 0.5p to 555p. ITV, another in danger of the drop, escaped despite a 1p decline to 53.75p.

Based on last night’s closing prices, the two will be replaced by investment management group Ashmore, down 6.2p at 398.2p, and support services business Bunzl, up 13p at 785p.

The changes need to be ratified by FTSE Group on Wednesday, and are due to take effect after the market closes on Friday September 16. © Guardian News & Media Limited 2011 | Use of this content is subject to our Terms & Conditions | More Feeds