FTSE/JSE Africa Index Series - Rebasing of FTSE/JS
JSE
GEN
FTSE/JSE Africa Index Series - Rebasing of FTSE/JSE Africa Platinum & Precious
Metals Index (J153)
Rebasing of FTSE/JSE Africa Platinum & Precious Metals Index (J153)
FTSE/JSE Africa Index Series
31 January 2007
The FTSE/JSE Africa Platinum & Precious Metals Index (J153) current index value
is very high and has a small number of constituents. Changes in constituents`
share prices cause exaggerated fluctuations in the index, making the index more
difficult to track.
To ensure seamless distribution and maintain the transparency of the index, the
JSE and FTSE will rebase the J153 index by dividing the index value by 1000
after close of business on 28 February 2007. The index will remain an accurate
measure of market activity in this sector, whilst complying with distribution
requirements. The JSE and FTSE believe this solution will cause minimal
disruption to clients and prevent a similar issue arising again.
Clients with historic database values should apply the rebasing after the close
of trading on 28 February 2007 and before start of trading on 1 March 2007, to
ensure that records remain accurate. High, low, open and close value for the
index will also be affected. All TRI index values, earnings yield and dividend
yield values will remain unchanged.
No official historic values will be issued.
This change will be implemented from the start of trading 1 March 2007 provided
the Index level does not reach 100,000 points before then, otherwise this change
will have to be implemented with immediate effect.
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Date: 31/01/2007 17:53:01 Produced by the JSE SENS Department.
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