New Stowe Global Index Tracks World’s Coal Stocks
First global coal industry index
New York, NY (PRWEB) January 11, 2008 -- The Stowe Global Coal Index (Ticker: COAL) of 60 global coal industry stocks has commenced real-time price dissemination. Data is available through most data vendors. S&P Custom Indexes serves as calculation agent for the indexes.
COAL is the world’s only global coal industry index. Says Joseph LaCorte, Chairman of the Stowe COAL Index Committee, “Coal, which accounts for over 25% of world energy output and is essential to the production of steel, cement and polysilicon chips and wafers, is one of the world’s most overlooked commodities. A global index is the best way to measure this important industry’s financial dynamics.”
The capitalization weighted, float-adjusted index incorporates companies engaged in five primary coal sectors: coal mining and production, coal transportation, coal technology, coal mining equipment and coal power generation.
The Stowe Global Coal Index was designed to serve as a fair, impartial and transparent measure of the performance of the global coal industry. It includes stocks from 12 countries, including major producers such as China, the United States and Australia. Companies included in the index must generate at least 50% of their total revenues from coal or related activities.
Says Stowe Index Committee member, Mike Keenan, “With persistently high petroleum prices and supply constraints, the abundance and low cost of coal secures its role as a fundamental resource in the global economy. Technological advances in clean coal, coal-to-gas, coal-to-liquid and sequestration creates a path for coal to assume an even greater role in the years ahead. COAL is the bell-weather for industry development.”
The Stowe Global Coal Index has been licensed to several financial services firms, who plan to offer listed investment and risk management products, including ETFs, on the index.
Detailed information, including constituent data, rules and price information, on the Stowe Global Coal Index is available at www.stowecoalindex.com.
Index Info:
Joseph A. LaCorte, CFA
Stowe Global Indexes, LLC
+1-646-467-7927
jlacorte(at)stowecoalindex.com
Michael Keenan
Stowe Partners, LLC
+1-916-481-1772
mkeenan(at)stowepartners.com
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