Cybersecurity software firm Avast becomes first Czech company to join London Stock Exchange’s FTSE 100 Index

Cybersecurity software firm Avast becomes first Czech company to join London Stock Exchange’s FTSE 100 Index
Avast enters FTSE 100 just two years after listing on LSE as coronavirus pandemic’s devastation of travel industry causes cruise giant Carnival and budget airline Easyjet to drop out.
By bne IntelliNews June 5, 2020

The Czech cybersecurity software company Avast has become the first Czech company to join the London Stock Exchange FTSE 100 index, announced the global index provider FTSE Russell in its June 2020 quarterly review published on June 3.

The update of the FTSE 100 index saw the exit of several firms hit by the coronavirus (COVID-19) pandemic as cruise company Carnval, budget airline Easyjet and aerospace components producer Meggitt dropped out. 

Joining the index alongside Avast, which entered the LSE in May 2018, were home-repairs company Homeserve and DIY group Kingfisher, as well as gambling company GVC. 

“This FTSE reshuffle is highly reflective of the current crisis environment,” an analyst at investment broker The Share Centre Helal Miah said, adding that “out go stocks from sectors that have taken a beating and questions arise as to how and whether some of these can manage this crisis.”

Avast, founded in 1988 by Czech researchers Eduard Kucera and Pavel Baudis, is one of the pioneers in the field of computer security. In 2016, Avast bought the competing Czech antivirus company AVG. Avast is the second largest antivirus company in the world after Symantec in terms of sales.

FTSE Russell is a global index leader that provides innovative benchmarking, analytics and data solutions for investors worldwide. FTSE Russell calculates thousands of indices that measure and benchmark markets and asset classes in more than 70 countries, covering 98% of the investable market globally.

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