Shares of Bombardier, BlackBerry drop after removal from blue-chip index

Canadian Apartment Properties Real Estate Investment Trust

15/06/2020 17:05

June 15 (Reuters) - Shares in Bombardier Inc  BBDb.TO  and
BlackBerry Ltd  BB.TO , one a staple of Canadian pension funds,
the other a formerly high-flying technology company whose
ubiquitous devices were in hands of presidents & average people
alike, slipped on Monday after being removed from Canada's
bluechip stock index.
    Shares of Bombardier were down over 10% at 46 Canadian cents
and those of BlackBerry were 6% lower at C$6.7 in morning trade.
    Index manager S&P Dow Jones Indices said on Friday it will
remove the two companies from the S&P/TSX 60 index effective
Monday. S&P considers several factors towards the inclusion of a
company on an index, including market capitalization and trading
liquidity - the shares not held by insiders and are easily
available to the public.
    Bombardier's shares have slumped over 75% this year and have
struggled to remain over the C$1 mark, a requirement to be on
the index. BlackBerry shares are down nearly 20% this year so
far.
    Bombardier and BlackBerry are replaced by renewable power
company Algonquin Power & Utilities Corp  AQN.TO  and Canadian
Apartment Properties REIT  CAR_u.TO .

 (Reporting by Bharath Manjesh in Bengaluru; Editing by Maju
Samuel)
 ((Bharath.ManjeshR@thomsonreuters.com;  outside U.S. +91 80
6749 2703;))