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CANADIAN TRUSTS TO BECOME PART OF THE TORONTO INDEX
- Article from:
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Hart's Petroleum Finance Week
- Article date:
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February 14, 2005
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Copyright informationCopyright Phillips Business Information, LLC Feb 14, 2005. Provided by ProQuest LLC. (Hide copyright information)
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Standard & Poor's has decided to include Canadian income trusts in the S&P/TSX Composite Index. S&P will provide a parallel index that excludes the trusts, but the composite index will continue to be considered the broad benchmark index for the Toronto Stock Exchange.
The revisions are expected to take effect midyear. The trusts will not be included in the large-cap S&P/TSX 60 Index, S&P reports.
There are currently 24 Canadian energy trusts, and they have a combined market capitalization of more than C$30 billion. Meanwhile, there are 175 Canadian trusts from all sectors and these have a total capitalization of more than C$118 billion, or 8% of the ...