Notes on the Financial Times-Actuaries Index in 1973

Extract

Classification of Stock Exchange Securities by Industry

As a result of quarterly meetings of the Index Constituents & Industrial Classification Committee, the classifications of 60 companies were changed either because the original classification was found to be wrong, or because the company had clearly changed its business. These changes were only made after notification to the company concerned and in most cases after discussions with the company; apart from those with whom negotiations had begun in 1972, a further 65 companies were approached in 1973. Classifications of newly floated companies were made by the Stock Exchange Quotations Department but the published lists were scrutinized and occasional changes were recommended.

The original classifications were set out in the 1970 note in this series (J.I.A., 97, 111–12). During 1973, Group 52 was renamed ‘Newspapers & Periodicals’, and five minor amendments to the definitions of other Groups were made.