NEW YORK, Dec. 7, 2006 (PRIME NEWSWIRE) -- Dow Jones Indexes, a leading global index provider, today announced component changes in the Dow Jones Islamic Market Titans 100 Index and its subindex, the Dow Jones Islamic Market Europe Titans 25 Index. The change is a result of the regular quarterly review of the Dow Jones Islamic Market Index.
Royal Dutch Shell PLC A (United Kingdom) will be deleted from the Dow Jones Islamic Market Titans 100 Index and its subindex, the Dow Jones Islamic Market Europe Titans 25 Index and will be replaced by Enel S.p.A. (Italy). Royal Dutch Shell PLC A is being removed due to its deletion from the Dow Jones Islamic Market World Index.
The Dow Jones Islamic Market Titans 100 comprises the Dow Jones Islamic Market U.S. Titans 50 Index, Dow Jones Islamic Market Europe Titans 25 Index and Dow Jones Islamic Market Asia/Pacific Titans 25 Index.
The changes announced today are a result of a quarterly review of the Dow Jones Islamic Market Index. Component changes made during the review are also applied to all Dow Jones Islamic Market Indexes to ensure compliance with Shari'ah principles. To determine their eligibility for the Dow Jones Islamic Market Titans 100, stocks are screened based on their industry type and their financial ratios. Excluded are companies engaged in the following lines of business: alcohol, tobacco, pork-related products, financial services, defense/weapons and entertainment. Dow Jones Indexes then screens out companies with unacceptable financial ratios: companies whose total debt divided by trailing 12-month average market capitalization is 33% or more; those whose cash plus interest-bearing securities divided by trailing 12-month average market capitalization is 33% or more and those whose accounts receivables divided by trailing 12-month average market capitalization is 33% or more.
The component change will be effective at the start of trading on Monday, December 18, 2006. The Dow Jones Islamic Market Indexes were created for people who wish to invest according to Islamic investment guidelines. The indexes track Shari'ah compliant stocks from around the world, providing Islamic investors with comprehensive tools based on a truly global investing perspective.
Further information on the Dow Jones Islamic Market Indexes can be found on the Dow Jones Indexes Web site at http://www.djindexes.com
Company additions to and deletions from the Dow Jones Islamic Market Titans 100 and its subindexes do not in any way reflect an opinion on the investment merits of the company.
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About Dow Jones Indexes
Dow Jones Indexes is part of Dow Jones & Company, which publishes the world's most vital business and financial news and information. Dow Jones Indexes is a premier global provider of investable indexes, including the Dow Jones Averages and the Dow Jones Global, Regional, Country and Sector Titans Indexes and is co-owner of the Pan-European Dow Jones STOXX Indexes. Together with Wilshire Associates, Dow Jones Indexes markets and licenses the Dow Jones Wilshire index family, which includes the Dow Jones Wilshire 5000 and its size, style, and sector indexes. Dow Jones Indexes also offers a number of specialty indexes including hedge fund, commodity and credit derivative indexes.
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