No changes expected in Italy's blue chip index next week

Saes Getters SpA

29/05/2024 10:52

MILAN, May 29 (Reuters) - No changes are expected in the
Italian blue-chip stock index FTSE Mib  .FTMIB  in a review at
the start of June, while regional bank Banco Desio e della
Brianza  DESI.MI  should join the Mid Cap index, replacing the
technology company Saes Getters  SAEI.MI , traders said on
Wednesday.
    The composition of the 40-member FTSE Mib is reviewed every
three months based on companies' market capitalisation and the
liquidity of their shares.
    The deadline for calculations related to the index update
expired on Monday. On the reserve list for a possible promotion
to the blue-chip index are cement company Buzzi  BZU.MI  and
asset management company Banca Generali  BGN.MI , traders added.
    Banco Desio e della Brianza represents a potential index
weight of around 0.55%, while Saes Getters has a current weight 
of 0.75%. However, Saes Getters is going to be delisted upon the
completion of a takeover bid launched by SGG Holding, ending 
June 21.    
    FTSE Russell, the group which manages the FTSE Mib
composition reviews, will unveil its index changes on June 5.
They will be effective from June 24.
 

 (Reporting by Giancarlo Navach
Editing by Keith Weir)
 ((giancarlo.navach@thomsonreuters.com; +39 06 8030 7735;))