S&P Dow Jones Indices loosens Canadian index inclusion criteria

TORONTO, Sept 13 (Reuters) - ‌S&P Dow Jones ​Indices (S&P ​DJI) said on Friday it will change the eligibility criteria for S&P/TSX Canadian Indices, with the move ‌potentially opening the door to the inclusion of ⁠major copper producer Anglo-Teck, according to investors.

• Under the new ‌criteria, foreign issuers listed on ‌the Toronto Stock Exchange but neither domiciled nor incorporated in Canada could qualify for inclusion if they ​have a material and substantive connection to Canada. Previously, only TSX-listed companies domiciled or incorporated in Canada ⁠were eligible.

• S&P/TSX Canadian Indices include the TSX Composite, Canada's benchmark stock ​index.

• Anglo American's $53 billion all-stock merger with TSX Composite company Teck Resources is expected to ​close between September and March, which ‌would create the world's fifth-largest copper producer.

• Under the proposed deal, the new company ⁠Anglo Teck will be headquartered in Canada but have a primary stock listing in London.

• "It is highly likely that Anglo ⁠Tech will be permitted to remain in the S&P/TSX Composite Index ​under the proposed methodology," said Robert Gill, a portfolio manager at Fairbank Investment Management.

• "Its attachment to Canada remains unusually strong — it brings ‌a substantial Canadian economic footprint, with headquarters in Vancouver and plenty of spending in ‌Canada for the foreseeable future."

• The change comes after ⁠a consultation with market ‌participants that was launched ​in July. Implementation is planned for December 21, 2026.

(Reporting by Fergal Smith; Editing by Aurora ‌Ellis)

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