Shares in the firms fell heavily, with China Mobile opening at an almost 15-year low, China Telecom hitting a decade low and China Unicom plumbing a 10-month trough. , , msci, ftse, global index, investment
MSCI, FTSE Russell cut Chinese telecom firms from global indexes - Netscape Money & Business netscape.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from netscape.com Daily Mail and Mail on Sunday newspapers.
Index providers MSCI Inc, FTSE Russell and S&P Dow Jones Indices said they would cut three Chinese telecom companies from benchmarks, part of a widening fallout from a U.S. investment ban that has battered their share prices.
By Rachel Fixsen2020-12-21T08:21:00+00:00
The East Sussex Pension Fund, a UK local authority fund, is clearing fossil fuel companies from half of its passive equities portfolio, by using Norway’s Storebrand group as the new manager of £400m (€440m) of its global equities within a climate-tilted index fund.
Storebrand announced the £3.9bn UK pension fund had selected its Storebrand Global ESG Plus strategy for half of its indexed equities, saying this was the Norwegian financial group’s first major UK pension fund mandate win.
Councillor Gerard Fox, chair of the East Sussex Pension Fund, said: “Investing in generic passive indices, while a perfectly acceptable part of any pension strategy, tends to weight exposure to older and often more carbon intensive incumbents over which no investor due diligence has taken place.”
ETMarkets Morning Podcast (ET Online) India likely to see $700-$900 mn inflows from FTSE rejig
06:10 Min | December 18, 2020, 9:17 AM IST
Here s a head up to some of the news we are tracking at this hour. Tune in!
Tags
Transcript
Hi there! Welcome to ETMarkets Morning, the show about money, business and markets. I am Nandini Sanyal, and here is what we have to start your day. US tells RBI to slow down dollar purchase Select stocks await bonanza from FTSE rejig Oaktree threatens to sue DHFL creditors
AND
And there is more. But first, a quick glance at the state of the markets.