3dp chart, page-1671

XRO was well bought the other day with its inclusion to the Global Standard index. Might see similar affect for 3DP.

What else is driving the Xero share price higher?

Also giving Xero’s shares a boost today is its inclusion in the illustrious MSCI Global Standard index this morning following its quarterly review.

Xero was the only ANZ based company out of 141 new additions to the index this morning. Thankfully for local investors, no Australian companies were among the 135 companies that were deleted from the index.

Given that the MSCI Global Standard index is one that fund managers and index funds track, the buy side has been a lot firmer than usual today and helped drive its shares higher.

What is the MSCI Global Standard index?

The MSCI Global Standard index is MSCI’s flagship global equity index. It is designed to represent the performance of the full opportunity set of large and mid-cap stocks across 23 developed and 26 emerging markets.

According to MSCI, as of December 2019, the index covered more than 3,000 constituents across 11 sectors and approximately 85% of the free float-adjusted market capitalisation in each market.

It has been built using MSCI’s Global Investable Market Index (GIMI) methodology, which is designed to take into account variations reflecting conditions across regions, market cap sizes, sectors, style segments, and combinations.