TSX launches battery metals index

By Staff | June 2, 2022 | Last updated on June 2, 2022
1 min read
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The Toronto Stock Exchange (TSX), in collaboration with S&P Dow Jones Indices LLC, has launched a battery metals index, TMX Group Ltd. said in a release on Thursday.

The S&P/TSX Battery Metals Index measures the performance of TSX- and TSX Venture Exchange–listed companies focused on the production and exploration of select metals — such as cobalt, copper, lithium, nickel and zinc — used in the decarbonization of the transportation sector, the release said.

“Global demand for battery metals continues to gain momentum, and the goal of this new benchmark is to provide investors increased exposure to, and deeper insights into, the cleantech and energy transition story,” said Loui Anastasopoulos, TSX CEO and global head of TMX Group’s capital formation.

Last year, companies focused on critical and battery minerals accounted for more than 25% of the total equity capital raised by the mining sector on the TSX and TSXV, the release said.

The TSX will host a market opening ceremony on June 7 to celebrate the new index.

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The staff of Advisor.ca have been covering news for financial advisors since 1998.