S&P outlines sharia index plans

Standard & Poor's (S&P) newly launched sharia stock indexes have had a quiet reception from the market since their launch at the end of last year, but the rating agency is confident that a range of sectoral indexes will be more successful.

The agency launched sharia versions of the US S&P 500, the S&P Europe 350 and the S&P Japan 500 indexes in December. John Davies, S&P's senior director of index services for Europe, says: "Investment banks want smaller, more liquid baskets - 25 to 30 stocks

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