S&P announces changes to Canada’s broad index

Changes are coming to the S&P/TSX Composite Index later this month. Commodities companies will be added to the broad measure of the Canadian market while REIT, cannabis and financial services firms will be removed.

S&P Dow Jones Indices said on Friday that it’s making five changes to the index. International Petroleum Corp. and Lundin Gold Inc. will added to the S&P/TSX Composite prior to the opening of trading on March 20.

At the same time, ECN Capital Corp., Artis Real Estate Investment Trust and Cronos Group will be removed.

ECN was recently a top performer, making the TSX30 list in 2021, but its earnings have dropped more recently as it makes changes to its business model.

S&P rebalances its headline index for the Canadian equity market quarterly. There are currently 236 names included in the index.

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