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.
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.Report Typo/Error
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