Highlights
The quarterly rebalance of the ASX indices brings several changes across the ASX 20, ASX 50, ASX 100, and ASX 200 categories, as announced by S&P Dow Jones Indices. These changes will be effective prior to the open of trading on June twenty-third. This reshuffle reflects movements in company performance and market capitalisation over recent months.
ASX 20 Index
The ASX 20, comprising the largest listed entities on the Australian Securities Exchange, will see one adjustment. James Hardie Industries plc (ASX:JHX), which operates in the building materials sector, is exiting the index. The company’s recent performance has led to a fall in its ranking, particularly following reaction to developments concerning an international acquisition. Brambles Ltd (ASX:BXB), active in supply chain logistics, will take its place in the ASX 20.
ASX 50 Index
In the ASX 50 index, which includes the top companies by market capitalisation beyond the ASX 20, one substitution has been confirmed. Pilbara Minerals Ltd (ASX:PLS), operating within the lithium mining space, will exit the index. The position will be filled by Evolution Mining Ltd (ASX:EVN), a company focused on gold production and exploration. Evolution Mining's rise into the ASX 50 reflects recent strength in its sector.
ASX 100 Index
Two companies are being removed from the ASX 100, a broader index capturing a wider range of mid-to-large-cap firms. Paladin Energy Ltd (ASX:PDN), operating in uranium exploration and mining, is exiting the index. Additionally, Viva Energy Group Ltd (ASX:VEA), which is engaged in fuel retailing, is also being removed. These companies will be replaced by Perseus Mining Ltd (ASX:PRU), a gold-focused mining company, and Pinnacle Investment Management Group Ltd (ASX:PNI), which operates in the asset management industry. Both have seen significant improvements in their relative index standings.
ASX 200 Index
The ASX 200, which includes a mix of the largest listed companies on the Australian Securities Exchange, will undergo two key adjustments. Healius Ltd (ASX:HLS), part of the healthcare services industry, and Stanmore Resources Ltd (ASX:SMR), a coal mining entity, will both be removed from the index. Their places will be taken by Austal Ltd (ASX:ASB), a shipbuilding company, and Nick Scali Limited (ASX:NCK), a furniture retail business. These changes align with shifts in relative market valuations and recent share activity.