05/12/2014 - 15:22

WA miners out in index reshuffle

05/12/2014 - 15:22

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Western Australian companies are on the outer in the quarterly reshuffle of the S&P ASX indices, with local players including Iluka Resources and Medusa Mining dropping out.

WA miners out in index reshuffle
Indices are adjusted on a quarterly basis.

Western Australian companies are on the outer in the quarterly reshuffle of the S&P ASX indices, with local players including Iluka Resources and Medusa Mining dropping out.

Iluka has been replaced in the ASX All Australian 50 Index by Ramsay Health Care, after Iluka, which reached a high of more than $9.00 per share in the September quarter, had dropped to $6.53 at the close today.

Como-based Medusa Mining, which has suffered a halving of its share price since July, and gold miner Resolute Mining have been removed from the S&P/ASX 200, replaced by APN News & Media and Vocus Communications.

Wholesale telecommunications provider Vocus has been the subject of merger discussions with WA’s Amcom Telecommunications, with due diligence commencing last month.

In the deal, Vocus would acquire outstanding shares in Amcom.

Medusa Mining was also removed from the ASX All Australian 200 Index, along with WA-based civil contracting and mining services provider NRW Holdings.

Vocus was added to the index, with Corporate Travel Management the other addition.

In the S&P/ASX 100 index there were four moves, with Arrium and Myer Holdings making way for Healthscope and Tpg Telecom.

The changes are effective from December 19.

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