NEW YORK, June 26 /PRNewswire/ -- Standard & Poor's will make the following change to the S&P 500 index after the close of trading on Monday, June 30:
-- AK Steel Holding Corp. will replace Countrywide Financial Corp. . Countrywide is being acquired by S&P 100 and S&P 500 constituent Bank of America in a deal expected to close on or about that date, pending final approvals.
Standard & Poor's will monitor this transaction, and post any relevant updates on its website: http://www.standardandpoors.com/.
AK Steel produces carbon flat-rolled steel for the automotive, appliance, construction and manufacturing markets. Headquartered in West Chester, OH, the company will be added to the S&P 500 GICS (Global Industry Classification Standard) Steel Sub-Industry index.
Following is a summary of the change: S&P 500 INDEX - June 30, 2008 COMPANY GICS ECONOMIC SECTOR GICS SUB-INDUSTRY ADDED AK Steel Materials Steel DELETED Countrywide Financial Financials Thrifts & Mortgage Finance
Additions to and deletions from an S&P equity index do not in any way reflect an opinion on the investment merits of the companies concerned.
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