![MARKET REPORT: Burberry to drop out of FTSE 100 after 14 years](https://i.dailymail.co.uk/1s/2024/08/30/19/89115381-0-image-a-17_1725043128758.jpg)
Shares - which slid 1.2 per cent, or 8p, to 677.8p - have more than halved in value this year. The stock hit its lowest level in 14 years last month after the group issued a profit warning and scrapped its dividend. Burberry, worth £2.5billion, is expected to be demoted into the FTSE 250 when indicative changes for the latest reshuffle are announced. It is likely to be replaced by the Lloyd's of London insurer Hiscox.