MSCI Adds Fossil, Dongyue to World Index, Deletes Sino-Forest
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MSCI Inc., whose equity indexes are tracked by investors with about $3 trillion in assets, removed three stocks from its global standard indexes including Sino-Forest Corp., while adding five companies.
Sino-Forest, the Hong Kong-based forestry company listed in Canada, will be deleted from the MSCI All-Country World Index of global stocks, according to a statement today. Yellow Media Inc., the Canadian directory publisher, and Home Retail Group Plc in the United Kingdom will also be removed. U.S.-based watchmaker Fossil Inc., New Gold Inc., Precision Drilling Corp., British aircraft-components maker GKN Plc and Chinese refrigerant producer Dongyue Group will be added to the gauge.