YORK housebuilder Persimmon is to make a return to the FTSE 100 Index.

The company slipped from the FTSE100 in 2008 after it was hit by the recession, and it is currently listed as FTSE 250 companies.

But the business has increased its value to £3.6 billion, putting it among the top 90 companies on the stock exchange.

It is expected to be upgraded on June 21.

Jeff Fairburn, chief executive of Persimmon, said: “I am delighted with today’s news. Persimmon’s position in the FTSE 100 underlines the important contribution housebuilding continues to make to economic recovery in the UK.”