04/09/2015 - 14:33

Austal shines in ASX rebalance

04/09/2015 - 14:33

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Shipbuilder Austal has shone in the quarterly rebalance of the S&P/ASX indices, while many local miners and contractors have lost their status.

Austal shines in ASX rebalance

Shipbuilder Austal has shone in the quarterly rebalance of the S&P/ASX indices, while many local miners and contractors have been demoted.

Austal, which recently posted a 70 per cent rise in net profit for the 2015 financial year, has been added to the ASX 200 index, while MMA Offshore, Bradken and UGL have been bumped down.

New Zealand-based retailer Kathmandu also lost its place in the top 200.

Gold companies St Barbara and Gold Road Resources have moved up the rankings and have been added to the ASX 300 index, while iron ore miners Atlas Iron and BC Iron lost their positions in the index.

NRW Holdings, Ausdrill, Buru Energy, Silver Lake Resources and Tiger Resources were also bumped from the ASX 300 index.

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