Australia’s benchmark S&P Dow Jones Indices (S&P DJI) today announced the changes in the S&P/ASX indices, effective at the start of trading on 24 June 2019. In the June 2019 quarterly rebalancing of a range of indices, S&P Dow Jones Indices undertook the change in S&P/ASX 200 Index (XJO) for companies listed on the Australian Securities Exchange.
S&P/ASX 200 Index (XJO) represents Australia’s top 200 largest listed companies and is considered as an Australia’s primary stock market index, which sets the benchmark of Australian equity performance. The rebalancing has placed three stocks coming from healthcare and industrials sector to sit on the position of highly popular stocks operating in the diversified sectors. To sum it up, it could be said that CUV, SSM and ASB have replaced SWM, SYR and NVT in ASX 200 Index.
Source: S&P Dow Jones Indices June 2019 quarterly rebalancing
Have a lens over these stocks:
CLINUVEL PHARMACEUTICALS LTD (ASX: CUV): Biopharmaceutical company, CLINUVEL has been upgraded from the S&P/ASX 300 Index to the S&P/ASX 200 Index (XJO) in periodic rebalancing announced today. The company clinched the higher ranking after meeting the high standards of the S&P/ASX 200 Index defined on the basis of float-adjusted market capitalisation and median liquidity over the past six months.
CLINUVEL’s Chief Financial Officer, Darren Keamy stated that it is the privilege of CLINUVEL to be selected among Australia’s 200 largest listed companies, which outlines the determination and focus of its people to make a difference for patients and their families.
This landmark inclusion has parked the stock in the green zone since the start of today’s trading session. CUV stock price edged up by 0.74% to trade at $34.040 as at 2:16 PM AEST on 14 June 2019. It is trading at a price to earnings multiple of 101.780x with a market capitalisation of $1.65 billion.
Over the past 12 months, the stock has posted an attractive return of 223.35% with an upside of 87.93% in the last six months.
Service Stream Limited (ASX: SSM): Service Stream Limited, an infrastructure network provider publicly listed in the industrials sector, has notched up the place in benchmark S&P/ASX 200 Index (XJO) on Friday.
SSM’s addition in the Australian benchmark index brings the company in the limelight as attractive investable security, reflecting its recent commercial progress and outstanding momentum of the stock. To count on the commercial achievements, SSM’s new contract with Telstra has been the major highlight.
In March 2019, Service Stream Limited inked a new contract with Telstra in place of the previous expired agreement for an initial term to June 2021. The contract has been executed for SSM to provide construction and design services to Telstra in order to support its wireless infrastructure network.
The shares of Service Stream Limited have been in the favourite list of investors since the listing of the stock on ASX in 2004. The stock performance since then has gone up 561.14% including a 5-year, 1-year, and 6-months’ change of +1256.44%, +58.71%, and +42.61%, respectively.
Trading near to its 52-week high, SSM stock price has gone up by 2.033% to stand at $2.510 as at 14 June 2019 (2:48 PM AEST). Its price to earnings multiple stands at 19.650 x with a market capitalisation of $987.98 million.
Austal Limited (ASX: ASB): A billion-dollar company, Austal Limited is another industrial sector company that has bagged a place in S&P/ASX 200 Index (XJO) in today’s rebalancing.
Austal Limited was given the spot of educationist Navitas Limited, which is to be acquired by an investment consortium led by BHG. The takeover of Navitas translates its delisting from ASX, i.e. once the acquisition transaction of Navitas gets completed, it will become a privately listed company.
Positioned as a world largest aluminium shipbuilder, Austal Limited has been awarded 2 EPF vessels worth A$369 million since the half year. Additional orders for EPF since H1 means 14 total orders with ten delivered Austal has won all three competitions for LCS over the last two years demonstrating the strong cost competitiveness of the company. For Fiscal 2019, the company has announced its full-year guidance for revenue in the range $1.8 billion to $1.9 billion.
ASB stock price is trading at $3.085, up 4.576%, on 14 June 2019 (3:43 PM AEST). The stock’s price to earnings multiple is currently 27.830x with a market capitalisation of $1.04 billion. Over the past 12 -months, the stock has witnessed a positive performance change of 68.57%, including an upside of 26.07% in the past three months.
Seven West Media Limited (ASX: SWM): Integrated Media company, Seven West Media Limited got struck off from the list of S&P/ASX 200 Index (XJO). The company is into the business of media and entertainment services across Australia, including newspaper publication, broadcasting, subscription video on demand and free to air television broadcasting.
On the news of SWM removal from the list of top 200 Australian listed companies, the stock price declined by 1.667% to trade near to its 52-weeks low at $0.472 on 14 June 2019 (3:54 PM AEST). SWM stock price has declined by 42.51% over the past 12 months, including a negative price change of 19.33% recorded in the past six months.
Syrah Resources Limited (ASX: SYR): Syrah Resources Limited, a metal and mining player came under the radar of benchmark indices, resulting in the removal of the company from the S&P/ASX 200 Index.
In response to this change, the investors pressed the sell button and the stock declined 2.605% in a day trade to stand at $1.047 as at 14 June 2019 (4:02 PM AEST). Over the past 12 months, the stock has posted a negative return of 61.61% despite a marginal increase of 1.42% as recorded in the past three months.
Navitas Limited (ASX: NVT): Navitas Limited publicly listed in the consumer discretionary sector is a global education provider. The company is into the process of being acquired by BHG consortium at a purchase consideration of ~A$2.1 billion, which would result in subsequent delisting of NVT stock from the Australian Securities Exchange.
In a Quarterly rebalancing report, S&P Dow Jones Indices reported that Navitas Limited would be removed S&P/ASX 200 Index, subject to shareholder and final court approval of the scheme of arrangement relating to Navitas acquisition by an investment consortium.
At the time of writing, 14 June 2019 (4:12 PM AEST), NVT stock is trading at $5.795, down 0.258%. The company’s market capitalisation stands at $2.08 billion. Over the past 12 months, NCT stock price has inclined by 32.65% while in the last 3 months and six months, it has moved up by 1.93% and 16.20%, respectively.
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