Swiss Stock Exchange drops Ciba from SMI Index

On the recommendations of the Index Commission, the Swiss Stock Exchange (SWX) will reduce the number of companies listed in the SMI index from 25 to 20. As part of the reduction and reshuffle, Ciba will no longer be listed in what is considered to be an elite list of Swiss companies and can affect investment of the big shareholders linked to the index or taking confidence from it. Clariant just survives the reshuffle, finding itself at the bottom of the pile.

The changes will take effect on the 24th September, 2007. For a detailed account of the changes, go to the SWX web site or see the specific announcement or the NZZ online article.