New York, NY (PRWEB via PRWebDirect) March 18, 2008 -- The Stowe Coal Index (TICKER: COAL) will delete twenty-one existing components, effective 6:00 PM (EST) Sunday, March 23. The unusually large number of deletions was caused by index rule changes, which raised certain eligibility standards. The minimum market capitalization required for inclusion in the index was raised from USD 100 million to USD 200 million. In addition, a new liquidity standard of USD 1 million per day in daily turnover was imposed. Several other companies were deleted because they failed to meet revenue hurdles required for classification as principally engaged in the global coal industry.
The twenty-one stocks deleted represented in the aggregate 13% of the weight of the Stowe Coal Index. Said Joseph LaCorte, Chairman of the Stowe Coal Index Committee, “These changes greatly enhance the overall efficiency of the index without materially altering is basic composition.” The index’s sector and geographic breakdown remains materially unchanged. One company was added to the index. A complete list of constituents and weights for the reconstituted index will be posted on the Stowe Coal web site on Monday, March 24 (http://stowe.snetglobalindexes.com/about_the_indexes.php).
The Stowe Coal Index is a modified capitalization-weighted, float adjusted index of 39 of the most prominent pure-play coal industry stocks in the world. To be included in the COAL index stocks must pass multiple screens, including for capitalization, float, exchange listing, share price and turnover.
Detailed information, including constituent data, rules and price information, on the Stowe Coal Index is available at www.stowecoalindex.com. Data is also available through most vendors of financial data.
Index / Ticker:
Stowe Coal Index (USD) / COAL
Stowe Coal Index (EUR) / COALE
Index Info:
Joseph LaCorte
Stowe Global Indexes, LLC
646-467-7927
www.stowecoalindex.com
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