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A general view of the TSX Broadcast Centre in Toronto. (MARK BLINCH/REUTERS)
A general view of the TSX Broadcast Centre in Toronto. (MARK BLINCH/REUTERS)

Air Canada, Yellow Media seen being cut from S&P/TSX index Add to ...

UBS AG expects Standard & Poor’s to present its quarterly review of Canada’s benchmark stock index in two weeks, with three companies being added and four being removed.

Fortuna Silver Mines Inc. , Algonquin Power & Utilities Corp. and Parkland Fuel Corp. have the highest probability of joining the S&P/TSX composite index, UBS said Friday in a research note. Yellow Media Inc. , Air Canada , Ivanhoe Energy Inc. and GMP Capital Inc. are the most likely to be deleted.

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Stocks often rise or fall after changes to benchmark indexes as portfolio managers adjust their holdings to reflect the new weightings of shares in the index. The S&P/TSX includes 256 companies at the moment.

Brookfield Renewable Power Fund and European Goldfields could be excluded from the S&P/TSX if they proceed with plans to move their head offices from Canada, UBS said.

 
  • FVI-T
  • AQN-T
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  • YLO-T
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  • GMP-T
  • BRC.UN-T
  • EGU-T
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