MILAN, Nov 23 (Reuters) – Fashion group Brunello Cucinelli BCU.MI is expected to join the FTSE MIB index of leading Italian shares at the expense of agricultural and construction machinery maker CNH Industrial CNHI.MI in a review at the end of the month, two traders said on Thursday.

The index of the top 40 shares reflects market capitalisation and liquidity.

CNH approved a $1 billion buyback program on Nov. 7 and said it planned to delist from the Milan stock market by the end of 2023.

Best known for its cashmere clothing, Cucinelli rose 13.2% this year to reach a valuation of some 5.34 billion euros ($5.82 billion).

The deadline for calculations related to the index update expired on Monday, with Cucinelli ranked 34th. The index changes take effect from Dec. 18.

No other changes are expected, one of the traders said.

($1 = 0.9168 euros)

ftsemib https://tmsnrt.rs/47KNJG1

(Reporting by Giancarlo Navach, editing by Gavin Jones)

((giancarlo.navach@thomsonreuters.com; +39 06 8030 7735;))

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