Acergy SA, Aker Kvaerner ASA, Banca Italease SpA and Charter Plc are among eleven companies that will replace HVB Group, Havas SA and H. Lundbeck A/S, among others, in Europe's Dow Jones Stoxx 600 Index, Stoxx Ltd. said.
Compagnie Generale de Geophysique SA, Drax Group Plc, Edison Spa, Eutelsat Communications SA, Hagemeyer NV, Michael Page International Plc and Wincor Nixdorf AG will be added to the index, Stoxx said in an e-mailed statement. The changes will be effective on June 19.
Oce NV, A/S Det Ostasiatiske Kompagni, RHM Plc, Sig Holding AG, Spectris Plc, TDC A/S, Davis Service Group Plc and Weir Group Plc will be removed from the Stoxx 600 Index, Stoxx said.
Joining an index can lift a company's stock price as funds that track the measure need to buy the shares of its members. About 7.9 billion euros ($10.1 billion) track the Stoxx 600, according to Citigroup Inc. figures.
If a company not already in the benchmark is among the largest 550 by market value, the stock is added to the index and the lowest ranked member is removed. Conversely, if a stock falls below the rank of 750, it comes out and the largest company not already included goes in, according to Stoxx guidelines.