Globe says S&P/TSX index dropping Biomira, others
2002-12-13 05:01 PT - In the News
The Globe and Mail reports in its Friday, Dec. 13, edition that Standard & Poors Corp. announced Thursday it will drop 13 stocks from the S&P/TSX composite index as the financial data company continues its overhaul of the Toronto Stock Exchange's benchmark index. The Globe reports that the stocks being dropped from the index are Biomira, Corel, Gerdau AmeriSteel, Hub International, Mosaic Group, North American Palladium, O & Y Properties Corp., Slater Steel Inc., Stressgen Biotechnologies Corp., Teknion Corp., Theratechnologies Inc., Vector Aerospace Corp. and Westaim Corp. S&P said the changes will take effect after the close of trading Dec. 20. The deletions mark the third and final stage of S&P's transformation of the old TSE 300-stock composite index to the new S&P/TSX, which has different inclusion requirements. S&P did not announce any additions to the index. "Company additions to and deletions from an S&P equity index do not in any way reflect an opinion on the investment merits of the company," S&P said. The deletions of the 13 companies had been widely anticipated. |
