(July 11 – 17:00 ET) – Standard & Poor’s is launching four new sector indices.
The new indices will be for information technology, energy, financial and gold companies. They will be derived from companies included in the TSE 300 composite index.
Sector components will be selected using S&P’s guidelines for evaluating company capitalization, liquidity, and fundamentals. S&P says each new sector index will be “structured to provide a liquid and tradable benchmark that will serve as a strong base for related derivative products of Canadian economic sectors”.
They new indices will be known as the S&P/TSE Canadian Information Technology Index, S&P/TSE Canadian Energy Index, S&P/TSE Canadian Financials Index, and the S&P/TSE Canadian Gold Index. They will be calculated and disseminated on a real-time basis effective September 2000.
-IE Staff