S&P/TSX Composite Index (GSPTSE)

QUOTE AND NEWS
Canada.com  May 28  Comment 
The S&P/TSX composite index drops as traders considered earnings reports from two more of the big Canadian banks
DailyFinance  Mar 26  Comment 
HAMILTON, BERMUDA -- (Marketwired) -- 03/26/14 -- Brookfield Property Partners L.P. (NYSE: BPY) (TSX: BPY.UN) ("Brookfield Property Partners" or "the Partnership") confirmed that the S&P Dow Jones Canadian Index Services will add Brookfield...
Canada.com  Jan 23  Comment 
The S&P/TSX composite index dropped 12.16 points to 13,976.04, with nearly every major sector lower as U.S. markets tumbled
The Globe and Mail  Dec 31  Comment 
A look at the two stocks that mirrored the 2013 returns for the S&P 500 and the S&P/TSX composite index
DailyFinance  Dec 17  Comment 
Hudson's Bay Company ("HBC" or the "Company") (TSX:HBC) is pleased to announced that the Company will join the S&P/TSX Composite Index after the close of trading on December 20, 2013. The S&P/TSX Composite Index, managed...
Benzinga  Dec 16  Comment 
Descartes Systems Group (Nasdaq: DSGX) announced today that S&P Dow Jones Canadian Index Services has confirmed that Descartes will be added to the S&P/TSX Composite Index effective after the close of trading on Friday, December 20, 2013. ...
Mondo Visione  Nov 14  Comment 
S&P Dow Jones Canadian Index Services will make the following changes in the S&P/TSX Canadian Indices: Barrick Gold Corporation (TSX:ABX) has closed a bought deal equity offering of common shares that was announced on October 31, 2013. After...
Mondo Visione  Jun 28  Comment 
S&P Dow Jones Canadian Index Services will make the following changes in the S&P/TSX Canadian Indices: BCE Inc. (TSX:BCE) has announced that all necessary approvals have been received to close its acquisition of Astral Media Inc. (TSX:ACM.A)....
The Globe and Mail  Jun 17  Comment 
Shares could also enjoy a pop if company re-admitted into S&P/TSX composite index, according to John Stephenson, a portfolio manager with First Asset Investment Management
Top Foreign Stocks  Jun 16  Comment 
The composition of U.S. and Canadian equity markets vary widely. As a natural resources-based economy the Canadian market is concentrated by energy, mining and financial companies. The U.S. on the other hand has a very diversified economy with...




 
TOP CONTRIBUTORS


The S&P TSX composite index is a capitalization weighted index of the Toronto Stock Exchange. It's the main index for the exchange and covers over 75% of the Toronto Stock Exchange by market capitalization. It includes all common stocks and income trust units traded on the exchange.

Weighting and Calculations

The index is calculated on the basis of the market capitalization method. Instead of using a company's outstanding shares it uses its float, or shares that are readily available for trading. The free-float method, therefore, does not include restricted stocks, such as those held by company insiders.

So the formula would be[1]:

Index level= Σ(Price of stock* Number of shares)/ Index Divisor.

While one might track this portfolio’s value in dollar terms, it would probably be an unwieldy number – for example, the S&P 500 market value is roughly $11.8 trillion. Rather than deal with ten or more digits, the figure is scaled to a more easily handled number, currently around 1250. Dividing the portfolio market value by a factor, usually called the Index divisor, does the scaling.

Continuity in index values is maintained by adjusting the divisor for all changes in the constituents’ share capital after the base date. This includes additions and deletions to the index, rights issues, share buybacks and issuances, and spin-offs. The divisor’s time series is, in effect, a chronological summary of all changes affecting the base capital of the index. The divisor is adjusted such that the index value at an instant just prior to a change in base capital equals the index value at an instant immediately following that change[2].

Composition

Eligibility

To be eligilbile for inclusion in the Composite index[3] :

  • Market Capitalization: For eligibility any security must represent a minimum weight of 0.05% of the index. Moreover, the security must have a minimum weighted average price of atleast C$ 1 over the past three months and over the last three trading days of the month-end prior to the exchange reviewing the index.
  • Liquidity: The trading volume in terms of dollar value and the number of transactions must exceed at least 0.025% of the sum of all eligible securities' trading volume. To ensure that no single company dominates trading, they are capped at a maximum of 15% for value, volume and transactions.

Breakdown

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References

  1. Index Maths Methodology
  2. TSX Composite Description
  3. S&P Eligibility Criteria
  4. S&P description
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