Stocks News Europe: Royal Mail highlights STOXX 600 newcomers
26/02/2014 10:55
Royal Mail Group RMG.L highlights the list of new additions to the STOXX Europe 600 .STOXX at its next reshuffle, effective as of March 24. The postal and delivery company will be added to the index after it was privatised last year, having rallied over 40 percent in the four months since its flotation. Stocks joining the index usually see buying interest from investors tracking the benchmark as well as from financial institutions providing derivatives and exchange-traded funds (ETFs) which have the benchmark as the underlying asset. Sports Direct SPD.L will also enter the STOXX 600, after making its FTSE 100 debut in September last year, while London-listed Indian miner Vedanta VED.L , which left the FTSE 100 when Royal Mail joined, will drop out of the STOXX 600, along with German construction and materials firm Hochtief HOTG.DE . Swiss banks Valiant VATN.S and Banque Cantonale Vaudoise BCVN.S also leave the index, along with British department store Debenhams DEB.L , German retailer Celesio CLSGn.DE , Finnish chemical company Kemira KRA1V.HE and Swedish firms Hufvudstaden HUFVa.ST , a real estate company, and Lundbergforetagen LUNDb.ST , a financial services firm. Industrial goods and service firms populate the list of newcomers to the STOXX 600, with UK's WS Atkins ATKW.L , Germany's Leoni LEOGn.DE and Finland's Huhtamaki HUH1V.HE all joining. German travel firm TUI TUIGn.DE , Swiss tech company Logitech LOGN.S , Austrian bank Raiffeisen RBIV.VI and Italian insurer Unipolsai US.MI also join the index. Reuters messaging rm://alistair.smout.thomsonreuters.com@reuters.net Keywords: MARKETS EUROPE STOCKSNEWS