S&P to cut 6 stocks from Toronto index, will add 3
Fri Jun 13, 2008 5:50pm EDT
TORONTO, June 13 (Reuters) - Six stocks will be removed from the Toronto Stock Exchange's main index, while three will be added as part of a routine quarterly review, index manager Standard & Poor's said on Friday.
The changes to the S&P/TSX composite index will take effect at the start of trading on Monday, June 23, S&P said.
S&P makes the quarterly changes to make sure listed companies maintain certain standards for market capitalization and trading volume.
Removed from the index will be mining companies Crystallex International (KRY.TO: Quote, Profile, Research, Stock Buzz) and Breakwater Resources (BWR.TO: Quote, Profile, Research, Stock Buzz), business communications company Aastra Technologies Ltd (AAH.TO: Quote, Profile, Research, Stock Buzz), energy company Tesco Corp (TEO.TO: Quote, Profile, Research, Stock Buzz), fuel cell developer Ballard Power Systems (BLD.TO: Quote, Profile, Research, Stock Buzz), and security company Allen-Vanguard Corp (VRS.TO: Quote, Profile, Research, Stock Buzz).
Added to the index will be Birchcliffe Energy Ltd (BIR.TO: Quote, Profile, Research, Stock Buzz), Crew Energy Inc (CR.TO: Quote, Profile, Research, Stock Buzz), and Iteration Energy (ITX.TO: Quote, Profile, Research, Stock Buzz).
Stocks removed from the index will continue to trade on the exchange, but will fall off the radar screens of index traders. (Reporting by Cameron French; Editing by Peter Galloway)
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