Galaxy, Resolute join ASX 200

Gold and lithium players were the biggest winners in the quarterly S&P/ASX indices rebalance, with Perth-based companies Galaxy Resources and Resolute Mining leading the shift, while contractors and tech firms lost ground.

While there were no changes to the top 100 listed companies, lithium-focused Galaxy and gold miner Resolute climbed the ladder to secure spots on the ASX 200 index.

However, the rebalance ejected Programmed Maintenance Services and Henderson-based shipbuilder Austal.

Further adding to Wellard’s woes was news that the livestock exporter had been bumped out of the ASX 300 index following a disappointing first financial year as a listed company.

It was joined by tech company 1-Page, contractor Decmil Group and marine services business MMA Offshore, which were all also removed from the index.

In their place, gold plays Doray Minerals and Dacian Gold secured spots on the ASX 300 index.