Cliffs Natural Resources Inc. Added to S&P 500 Index
Cliffs Natural Resources Inc. (NYSE: CLF) (Paris: CLF) announced today that Standard & Poor's has issued a press release stating that it will add Cliffs to the S&P 500 Index. Cliffs' shares will be added to the Index effective Dec. 18, 2009, after the market closes.
The S&P 500 Index is the world's most followed stock market index and serves as a benchmark for the U.S. equity market as a whole, as well as for individual industry groups and corporations. Criteria for selection include being representative of the indicator's market sector and market capitalization range. Cliffs also will be added to the S&P 500 GICS Steel Sub-Industry index.
"We are gratified by our selection to the S&P 500. We believe this testifies to the value Cliffs has created for its shareholders as it continues to execute a strategy designed to achieve scale in the mining industry and serve the world's largest and fastest growing steel markets," said Laurie Brlas, executive vice president and chief financial officer of Cliffs.
GWR Price at posting:
66.0¢ Sentiment: LT Buy Disclosure: Held
