09/03/2018 - 11:58

Ausdrill into ASX 200

09/03/2018 - 11:58

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A number of local mining companies have moved up the stock market rankings, with contractor Ausdrill included in the S&P ASX 200 index, while South32 has been admitted into the top 20 as part of the market’s quarterly rebalance.

Ausdrill into ASX 200
Ausdrill is a mining services company specialising in drill rigs. Photo: Ausdrill

A number of local mining companies have moved up the stock market rankings, with contractor Ausdrill included in the S&P ASX 200 index, while South32 has been admitted into the top 20 as part of the market’s quarterly rebalance.

Ausdrill recently reported a half-year profit of $35.3 million, up 163 per cent on the previous corresponding year.

The company’s share price has more than doubled since the start of 2017, which has boosted its market capitalisation close to $1 billion.

Shares in Ausdrill were up 1 per cent at $2.73 at 230pm AEDT.

In the top 20 ranks South32 has replaced QBE Insurance Group with the diversified miner’s market cap sitting at about $16.5 billion.

Perth-based mining companies Altura Mining and New Century Resources were added to the S&P ASX 300 along with contractor NRW Holdings.

Meanwhile Cleanaway Waste Management, which acquired Tox Free Solutions last year, has been included in the top 100 companies while Fairfax Media and Vocuc Communications have fallen out.

Myer's recent struggles have led to the department store being removed from the ASX 200 index.

The company’s shares have shed two thirds of their value in the past year amid sluggish sales and a series of profit warnings.

 

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