Bourse changes SAX index structure

Slovakia's Bratislava Stock Exchange (BSE) said on February 1 it had changed the composition of its official 16-share SAX index after the regular annual revision of the index.

The new structure of the SAX excluded from the index three shares: wire producer Drôtovňa Hlohovec, construction firm Váhostav Žilina and heavy engineering company Považské Strojárne. These three were replaced by: packing materials firm Grafobal Skalica, shipmaker Slovenské Lodenice Komárno and paint producer Chemolak Smolenice.

"The main criteria for inclusion of issues into the (index) basis were the liquidity of shares in 1998... (and) the level of market capitalisation of the issue as of the last trading day in 1998," the BSE said in a statement.

The weight in the index was significantly changed for the issue of troubled steel maker VSŽ, to 11.42% from the previous 23.63%.

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