Ocado is due for the mid flight despite its float

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Since its initial public offering in July at 180p, Ocado's shares have lost 17% to change hands at 149½p today. Before the float, bosses had hoped for a valuation of 200p to 275p a share.

However, the company still has a market capitalisation of £801 million, making it the 219th-biggest company on the London Stock Exchange.

JPMorgan Cazenove's analysts have argued its promotion should improve investor sentiment towards the stock.

The next FTSE reshuffle will be decided on closing prices next Tuesday, with the changes coming into effect after the end of play on Friday 17 September.

A company outside the FTSE 250 which is valued as one of London's 325 biggest listed companies is promoted to the mid flight, provided there is enough liquidity in its shares.