The Financial Times Stock Exchange 100 Index was founded in 1984 and acts as a gauge of prosperity for businesses regulated by UK company law. The FTSE 100 list is calculated in real-time and published every second when the market is open.
Which companies are in the FTSE 100?
For moment-to-moment updates on the constituents of the FTSE 100, you can head to the London Stock Exchange here.
At the time of writing, the top five are:
- INTERTEK GROUP PLC ORD 1P
- EXPERIAN PLC ORD USD0.10
- M&G PLC ORD £0.05
- SSE PLC ORD 50P
- SEVERN TRENT PLC ORD 97 17/19P
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This week, it emerged that a handful of FTSE 100 companies have significantly delayed payments to their suppliers during the pandemic.
In a review carried out by Investors’ Chronicle, it was reported that several blue-chip companies and their subsidiaries have been taking far longer on average to pay invoices than before the pandemic.
There is a concern that large companies could be passing the burden of the economic crisis onto smaller businesses.
Before these figures were published, SME business leaders were already warning that payment standards had slipped since coronavirus hit.
According to a survey in July by the Federation of Small Businesses (FSB), about 62 percent of companies received late or frozen payments in the wake of the Covid-19 outbreak.
At the start of 2021, an estimated £23bn-worth of late invoices remained unpaid across the UK.
Mike Cherry, head of the FSB, said the pandemic has only deepened a “late payment crisis” that was stifling the UK economy long before 2020.
According to the FSB, about 50,000 firms a year close annually due to late payments.
In contrast, the new more flexible approach to supplier relationships after several years of regulatory oversight combined to broadly improve grocers’ payment terms in 2020.
A decade ago, supermarkets’ use of negative working capital – whereby payment is withheld until supplied goods are sold – was a source of considerable concern and debate.
This prompted the government to set up the Groceries Code Adjudicator to oversee grocers’ fair treatment of suppliers.
This has been reflected since the beginning of the pandemic – in the first six months, Tesco’s food sourcing arm took an average of 11 days to pay its suppliers and paid 100 percent of invoices within 30 days.
This followed a pledge at the start of the pandemic to pay almost 2,000 of its smallest suppliers immediately, instead of its ordinary policy of 14 days.
In the same period in 2019, suppliers to Tesco’s food sourcing business were paid within 30 days seven times out of 10, with an average wait time of 29 days.
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