UK’s FTSE 100 to lose second-biggest name

BHP will move to primary listing in Australia. (File pic shows entrance to the London Stock Exchange.) - Reuters

LONDON: The United Kingdom’s blue-chip FTSE 100 Index will lose its second-biggest stock by market value and the world’s largest mining company, after BHP Group announced plans to simplify its listing structure.

BHP will move to a primary listing in Australia after collapsing a dual arrangement that dates back to the company’s creation 20 years ago when Australia’s BHP Ltd merged with rival Billiton.