Two cannabis companies are among the new additions to the S&P/TSX Composite.
CannTrust Holdings Inc (TO:TRST) and Hexo Corp (TO:HEXO) were among the list of eight publicly-traded companies added to the index, according to a statement issued late Friday by S&P Dow Jones Indices. The S&P/TSX Composite is Canada’s broadest index of the largest stocks.
CannTrust is an Ontario-based licenced producer of both medical and recreational marijuana, which last month also listed its stock on the New York Stock Exchange, while Hexo is a cannabis company headquartered in Quebec with 1.3 million square feet of growing facilities in Ontario and Quebec and expanding into Greece.
The additions are part of a regular update of the index, which occurs every quarter. Other stocks graduating to the index were Ag Growth International Inc., Cargojet Inc., Dream Industrial REIT, Ero Copper Corp., NorthWest Healthcare Properties REIT and Summit Industrial Income REIT. Three stocks were deleted from the index – Computer Modelling Group, Kinder Morgan (NYSE:KMI) Canada Ltd. and Lucara Diamond Corp. The changes go into effect on March 18.