SP New Energy crushed on MSCI deletion
SP New Energy [SPNEC 1.06, down 6.2%; 150% avgVol] [pdf link] fell more than 6% yesterday as traders digested the MSCI Global Small Cap review results that indicated SPNEC would be deleted from the index, effective June 3. Cebu Pacific [CEB 29.50, down 1.8%; 113% avgVol] is also scheduled for deletion from the index, while ACEN [ACEN 5.00, up 9.4%; 478% avgVol] was selected for inclusion. Aboitiz Equity Ventures [AEV 37.00, down 3.5%; 458% avgVol] was deleted from the MSCI Global Standard index.