13 delisted from TSXS&P names 13 stocks to be cut from S&P/TSX in overhaul
Friday, December 13, 2002 – Page B11
Standard & Poors Corp. announced yesterday that 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 stocks being dropped from the index are Biomira Inc., Corel Corp., Gerdau AmeriSteel Corp., Hub International Ltd., Mosaic Group Inc., North American Palladium Ltd., O&Y Properties Corp., Slater Steel Inc., Stressgen Biotechnologies Corp., Teknion Corp., Theratechnologies Inc., Vector Aerospace Corp. and Westaim Corp.
In a news release, New York-based 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 didn't 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.
In his Dec. 5 report on upcoming index changes, UBS Warburg Inc. analyst Garry Cooper had 12 of the 13 on his list of stocks likely to fail to meet the index requirements.
Staff