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Following the March half yearly review, Standard & Poor’s will not make any changes to the S&P/MIB Index constituents effective at the start of trading on Monday 25 March 2008.
The new adjusted IWFs and shares will be announced on Monday, 17 March 2008.
Change of Index Methodology
The S&P/MIB Index Committee is to implement a change to the S&P/MIB Methodology which will be applied as of June 2008 rebalancing (effective date 23 June 2008). This will introduce the use of closing auction prices for all Index changes where opening auction prices are currently used. Opening auction prices will not be used for any index adjustment from this point.
The measure is the result of market consultation with domestic and international operators, and it is intended to align the S&P/MIB Index with European market practices.
An updated version of the S&P MIB Index Methodology will be published in due course, prior to the introduction of the changes.
Half Yearly Review: In March & September, Standard & Poor’s reviews the constituents of the S&P/MIB Index to determine if any changes need to be made to increase the sector representation of the index and/or remove any stocks that show insufficient free float market capitalization or trading levels to remain on the index.
Quarterly Rebalancing: In March, June, September and December, Standard & Poor’s updates the shares outstanding and IWFs (Investable Weight Factors) of the constituents of the index. The share information is primarily sourced from Borsa Italiana’s Official List and is made effective the Monday morning after the third Friday of each quarter. IWF’s (Investable Weight Factors) are also reviewed at this time using information primarily sourced from CONSOB.
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.
About Standard & Poor’s
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