Tech free fallers face FTSE oblivion

Technology firms which recently tumbled out of the FTSE 100 index now face the added humiliation of ejection from the FTSE 250.

In some cases companies face the drop just a few months after their exit from the top-flight of the UK's publicly listed companies.

The news highlights the roller coaster ride formerly high-flying technology and telecoms firms have suffered since the dot-com crash and beginning of the economic downturn.

Among those facing the plunge early next month are Bookham Technology, Kingston Communications and former handheld computer giant Psion.

According to The Times, Baltimore also faces eviction and will be replaced by pick 'n' mix confectioner Woolworths.

Eviction from the FTSE 250 index is compulsory if a company's market value falls below that of the 375th largest UK plc.

However, the diminishing ranks of technology and telecoms firms in the FTSE 250 are likely to be bolstered by a number of high-profile defections from the FTSE 100.

Companies likely to slide out of the top flight include CMG, Colt Telecom, Energis, Marconi, Spirent and Telwest.

The FTSE committee will determine the movers and shakers early next month.