Skip to main content
The Globe and Mail
Support Quality Journalism
The Globe and Mail
First Access to Latest
Investment News
Collection of curated
e-books and guides
Inform your decisions via
Globe Investor Tools
Just$1.99
per week
for first 24 weeks

Enjoy unlimited digital access
Enjoy Unlimited Digital Access
Get full access to globeandmail.com
Just $1.99 per week for the first 24 weeks
Just $1.99 per week for the first 24 weeks
var select={root:".js-sub-pencil",control:".js-sub-pencil-control",open:"o-sub-pencil--open",closed:"o-sub-pencil--closed"},dom={},allowExpand=!0;function pencilInit(o){var e=arguments.length>1&&void 0!==arguments[1]&&arguments[1];select.root=o,dom.root=document.querySelector(select.root),dom.root&&(dom.control=document.querySelector(select.control),dom.control.addEventListener("click",onToggleClicked),setPanelState(e),window.addEventListener("scroll",onWindowScroll),dom.root.removeAttribute("hidden"))}function isPanelOpen(){return dom.root.classList.contains(select.open)}function setPanelState(o){dom.root.classList[o?"add":"remove"](select.open),dom.root.classList[o?"remove":"add"](select.closed),dom.control.setAttribute("aria-expanded",o)}function onToggleClicked(){var l=!isPanelOpen();setPanelState(l)}function onWindowScroll(){window.requestAnimationFrame(function() {var l=isPanelOpen(),n=0===(document.body.scrollTop||document.documentElement.scrollTop);n||l||!allowExpand?n&&l&&(allowExpand=!0,setPanelState(!1)):(allowExpand=!1,setPanelState(!0))});}pencilInit(".js-sub-pencil",!1); // via darwin-bg var slideIndex = 0; carousel(); function carousel() { var i; var x = document.getElementsByClassName("subs_valueprop"); for (i = 0; i < x.length; i++) { x[i].style.display = "none"; } slideIndex++; if (slideIndex> x.length) { slideIndex = 1; } x[slideIndex - 1].style.display = "block"; setTimeout(carousel, 2500); }

Shares in Bombardier Inc. and BlackBerry Ltd., one a staple of Canadian pension funds, the other a formerly high-flying technology company whose ubiquitous devices were in the hands of presidents and common folks alike, fell on Monday after being removed from Canada’s blue-chip stock index.

Shares of Bombardier were down more than 11.5 per cent at 46 Canadian cents and those of BlackBerry had fallen 5.3 per cent to $6.76.

Index manager S&P Dow Jones Indices said on Friday it would remove the two companies from the S&P/TSX 60 Index effective Monday. The criteria for being on the index include market value and trading liquidity – the shares easily available to the public for trading.

Story continues below advertisement

Montreal-based Bombardier’s shares have slumped over 75 per cent this year and have struggled to remain over the $1 mark since March. The company had a market value of $36-billion at its peak, and is now worth $1.3-billion.

Known for its cutting edge technology in aviation and transportation, Bombardier evolved from selling snowmobiles decades ago into a global plane and train maker.

The company, which in recent years has battled cost overruns and raked up billions in debt, would be reduced to a pure-play business jet maker after the planned sale of its transportation business to Alstom SA.

“The TSX’s action doesn’t change either our near-term priorities or long-term goals,” a spokeswoman for Bombardier said.

BlackBerry shares have lost nearly 20 per cent this year so far. During its heyday, the company enjoyed a market value of about $84-billion, and is worth less than $4-billion today.

For many years, from presidents to Wall Street bankers swore by BlackBerry phones for its superior data encryption and manageability. But over time, the company ceded market share to Apple Inc., Samsung and others, before the Waterloo-based company stopped producing handsets altogether.

Your time is valuable. Have the Top Business Headlines newsletter conveniently delivered to your inbox in the morning or evening. Sign up today.

Report an error
Tickers mentioned in this story
Due to technical reasons, we have temporarily removed commenting from our articles. We hope to have this fixed soon. Thank you for your patience. If you are looking to give feedback on our new site, please send it along to feedback@globeandmail.com. If you want to write a letter to the editor, please forward to letters@globeandmail.com.

Welcome to The Globe and Mail’s comment community. This is a space where subscribers can engage with each other and Globe staff. Non-subscribers can read and sort comments but will not be able to engage with them in any way. Click here to subscribe.

If you would like to write a letter to the editor, please forward it to letters@globeandmail.com. Readers can also interact with The Globe on Facebook and Twitter .

Welcome to The Globe and Mail’s comment community. This is a space where subscribers can engage with each other and Globe staff. Non-subscribers can read and sort comments but will not be able to engage with them in any way. Click here to subscribe.

If you would like to write a letter to the editor, please forward it to letters@globeandmail.com. Readers can also interact with The Globe on Facebook and Twitter .

Welcome to The Globe and Mail’s comment community. This is a space where subscribers can engage with each other and Globe staff.

We aim to create a safe and valuable space for discussion and debate. That means:

  • Treat others as you wish to be treated
  • Criticize ideas, not people
  • Stay on topic
  • Avoid the use of toxic and offensive language
  • Flag bad behaviour

Comments that violate our community guidelines will be removed.

Read our community guidelines here

Discussion loading ...

To view this site properly, enable cookies in your browser. Read our privacy policy to learn more.
How to enable cookies