Baltimore Technology shares fell heavily on the London market in advance of the announcement yesterday evening of its removal from the FTSE 100 Index. By 4.40 p.m. the shares had fallen 29p sterling or 4.8 per cent to £5.76 sterling.
At 5.50 p.m. the FTSE International announced the removal of a number of shares from its top 100 index and their replacement by other shares. The removal of the shares becomes effective on Friday, June 16th.
Apart from Baltimore, others dumped from the FTSE included Kingston Communications, Thus and Psion, who also no longer have high enough valuations to stay in the index.
They were replaced by Hanson, Scottish & Newcastle, Bookham Technology and Ocean Group.
The fall in Baltimore's share price in recent weeks meant that its removal from the index was not unexpected.
FTSE International reviewed its index based on the closing share prices on Tuesday when Baltimore closed at £6.05 sterling. It removed from the index any companies whose market capitalisations fell below the top 110 stocks.
Meanwhile, it was announced yesterday that Baltimore would provide its software for Intel's Internet Authentication Services (IAS).
Intel IAS offers authentication products for Internet healthcare services, with customers including Internet health websites and health care provider organisations.
