S.Paulo bourse cuts Telebras (SAO:TEL_.P) index weight
Reuters, Friday, January 02, 1998 at 09:44
SAO PAULO, Jan 2 (Reuters) - The Sao Paulo Stock Exchange (Bovespa) said Friday it revised the portfolio of its benchmark Bovespa index, lowering the weighting of Telebras preferred (SAO:TEL_.P">SAO:TEL_.P) and raising that of Telebras' subsidiaries.
The Bovespa said it lowered the weighting of Telebras preferred, the most actively shares traded on the Bovespa, to 40.34 percent from a previous 41.77 percent of all 51 shares comprising the index.
Telebras ordinary shares (SAO:TEL) were also lowered to 5.25 percent from a previous 6.67 percent, it said.
The Bovespa portfolio is reviewed every four months according to the stocks' recent volatility, liquidity and turnover in the market, a Bovespa spokeswoman said. The Bovespa said Telesp preferred (SAO:TLS_.P) now accounted for 3.80 percent, up from a previous 2.92 percent.
Telerj preferred (SAO:TER_.P) now represented 0.78 percent, up from 0.62 percent and Telepar preferred (SAO:TEL_.P) 0.37 percent, up from 0.30 percent, it added.
The Bovespa said it also slightly lowered the participation of Eletrobras preferred B (SAO:ELE_P.B) while raising the weighting of Eletropaulo preferred (SAO:ELE_.P), Cesp preferred (SAO:CES_.P), Cemig preferred (SAO:CMI_.P) and Light ordinary (SAO:LIG).
The bourse said Celesc preferred B (SAO:CLS_P.B) was added to the index, replacing Cofap preferred (SAO:FAP_.P).
Copyright 1998, Reuters News Service |
