Bema promoted:
<<<2002--0-6-14 13:25:24
Tech,telecom minnows dumped from Toronto TSX index
TORONTO, June 14 (Reuters) - Standard and Poor's said on
Friday it will remove 23 stocks from the S&P/TSX composite
index at the close of trading next Friday, and add three as the
index manager makes its first major readjustment in a
long-awaited make-over of Canada's benchmark equity gauge.
The index <.GSPTSE>, previously the TSE 300 composite, has
already been trimmed by three stocks this year.
It will consist of 277 stocks after the changes, as the
Toronto stock exchange spruces itself up ahead of a planned
public offering this year.
Notable deletions from the index included shares of
high-profile media companies CHUM Ltd <CHMb.TO>, and Hollinger
Inc. <HLGc.TO>, cut because of low trading volumes.
Tech and telecommunications companies also made up a big
chunk of the deletions, as recent share price tumbles put some
of their market capitalizations below acceptable levels for
inclusion.
Among telecoms, 360networks Inc. <TSX.TO>, GTG Group
Telecom Inc. <GTGb.TO> and Microcell Telecommunications Inc.
<MTIb.TO> were removed, as were tech companies 724 Solutions
Inc. <SVN.TO>, Certicom Corp. <CIC.TO>. and Zi Corp <ZIC.TO>.
Added to the index are Shoppers Drug Mart Corp. <SC.TO>,
which went public late last year, as well as Bema Gold Corp.
<BGO.TO>, and Ivanhoe Mining Ltd. <IVN.TO>.
TrizecHahn Corp. <TZH.TO>, Trilon Financial Corp.
<TFCa.TO>, and Clarica Life Insurance Co.<CLI.TO> have already
been removed from the index.
Listed below are additions and deletions from the S&P/TSX
Composite Index.
ADDITIONS:
Bema Gold Corp. <BGO.TO>
Ivanhoe Mining Ltd. <IVN.TO>
Shoppers Drug Mart Corp. <SC.TO>
DELETIONS:
360networks Inc. <TSX.TO>
724 Solutions Inc. <SVN.TO>
Acktion Corp. <ACK.TO>
BPO Properties Ltd. <BPP.TO>
Certicom Corp. <CIC.TO>
CHUM Ltd. <CHM.TO> class B
E-L Financial Corp. <ELF.TO>
Fahnestock-Viner HoldingsInc. <FHVa.TO>
FPI Ltd. <FPL.TO>
Glyko Biomedical Ltd. <GBL.TO>
GT Group Telecom Inc. <GTGb.TO>
Hollinger Inc. <HLGc.TO> Class C
Inflazyme Pharmaceuticals. <IZP.TO>
Ivanhoe Energy Inc. <IE.TO>
Lions Gate Entertainment Corp. <LGF.TO>
Microcell Telecommunications Inc. <MTIb.TO>
Micrologix Biotech Inc. <MBI.TO>
Proprietary Industries Inc. <PPI.TO>
Southward Energy Ltd. <SWN.TO>
Surefire Commerce Inc. <FIR.TO>
Turbo Genset Inc. <TGN.TO>
Winpak Ltd. <WPK.TO>
Zi Corp. <ZIC.TO>.
($1=$1.55 Canadian) |
