News Corp, SingTel return to Australia's benchmark index

0 Comments | AFP, June, 2007

SYDNEY (AFP) — News Corp. will return to Australia's benchmark sharemarket index later this month after an absence of more than two years, along with SingTel, index manager Standard & Poor's has announced.

S&P said it was changing its rules to allow foreign domiciled companies with a secondary listing in Australia to be included in the benchmark S&P/ASX 200, paving the way for the return of former market heavyweight News Corp.

Singapore-based SingTel, the owner of Australia's second-largest telecommunications carrier Optus, will also be reinstated to the index under the changes, which take effect on June 15.

"The enhanced index suite has been developed after consultation with a wide variety of key index stakeholders over the past 18 months, and reflects the...