The Technical Advisory Committee of Spain´s IBEX stock indexes said that Spanish real-estate firms Vallehermoso SA and Metrovacesa SA will join the country´s blue-chip IBEX-35 as of Jan. 2. They will replace holding company Corporacion Financiera Alba SA and hotel chain Sol Melia SA.
The IBEX-35 is the index of the 35 most-liquid shares trading on Spain´s stock exchanges. The IBEX committee meets every June and December to discuss possible changes to the index.
The IBEX committee will temporarily remove Centros Comerciales Carrefour Espana SA from the IBEX-35 as a result of the takeover bid launched by the company´s parent, France´s Carrefour SA.
Spain´s IBEX-35 index will be left with 34 companies. On Jan. 7, the IBEX committee will meet to reconsider the inclusion of Carrefour Espana after the takeover by its parent has been completed.
If the committee decides to again include Carrefour Espana, it will rejoin the index Jan. 10. Otherwise, it will include highways company Aurea Concesiones de Infraestructuras SA in the IBEX-35.