![\"Ithaca](\"https:\/\/dailybusinessgroup.co.uk\/wp-content\/uploads\/2025\/03\/Ithaca-Energy-Ithaca.png\")
Ithaca Energy, which has stakes in six of the ten largest fields in the North Sea and two of the largest pre-development fields, including Rosebank, has been promoted to the FTSE 100 Index.<\/p>\n
EasyJet has rejoined the top index, but its return is likely to be short-lived after the company agreed to be acquired by a private equity firm in a \u00a35.7 billion deal.<\/p>\n
Housebuilder\u00a0Persimmon\u00a0and the Ladbrokes and Coral owner Entain have dropped into the FTSE 250.<\/p>\n
The latest quarterly reshuffle was confirmed after the stock markets closed last night. The changes are effective from 21 September.<\/p>\n
Ithaca is a subsidiary of Israeli Delek Group. It listed just four years ago and has seen its shares rise by 64% so far this year. The Rosebank field is subject to regulatory approval for first oil in the first half of 2027.<\/p>\n
Executive chairman Yaniv Friedman commented:\u00a0\u201cWe\u2019re very pleased to be entering the FTSE 100, reflecting ongoing efforts of optimisation, growth and delivery of shareholder value.<\/p>\n
\u201cWe welcome the opportunities our updated position unlocks, including being introduced to a new pool of potential investors, with whom we look forward to engaging.\u201d<\/p>\n
Markets have fallen amid global concerns over rising levels of government debt. <\/p>\n
Two-year gilt yields, which gauge short term interest rate expectations, have jumped over 4.5%, pushing up borrowing costs and adding to pressures on new Prime Minister Andy Burnham and his Chancellor John Healey ahead of next month\u2019s budget. UK government borrowing costs have hit their highest level since the 2008 financial crisis.<\/p>\n
Analysts believe the Bank of England could raise borrowing costs as a result of a resumption of hostilities in Iran.\u00a0Brent crude held firm around $95 per barrel on Thursday after rising for three consecutive sessions.<\/p>\n
At Mr Burnham\u2019s first PMQs yesterday, Conservative leader Kemi Badenoch pointed out that the markets were worried by the current spending plans. \u201cWe now have a spendthrift prime minister who wants to say yes to everything but cannot tell us where the money is coming from.\u201d<\/p>\n
Mr Burnham said he was committed to fiscal discipline.<\/p>\n
M&G<\/strong><\/p>\n The investment manager reported a robust first\u2011half performance, with adjusted operating profits rising 15% to \u00a3435m.<\/p>\n Net inflows of \u00a3600 million from the wealth manager\u2019s open business represent an improvement compared with net outflows of \u00a3100m in the same period last year. Group AUMA remained resilient at \u00a3371 billion despite market volatility.<\/p>\n It also delivered \u00a31.7bn of bulk purchase annuity flows by the end of August, marking rapid progress in the newly launched proposition. <\/p>\n However, M&G recorded an IFRS loss after tax of \u00a3165m, compared with a \u00a3248m profit last year, after \u00a3551m of adverse short\u2011term investment movements linked partly to proposed changes to ground\u2011rent legislation.<\/p>\n \t <\/div>\n