Yeah I think they’re fairly used to managing these events in advance through whatever proxies and cross trades etc. Difference this time of course it’s happening in 10 names all at once. Could be ~US$500M of selling out of all those in aggregate.
The logic behind the move isn’t clear and really favours the North American gold market over the ASX. And that’s counter to performance over last few years. I’d imagine a few ASX companies would be pissed given some have justified corporate moves partly on the basis of index addition.
WAF Price at posting:
$2.32 Sentiment: Buy Disclosure: Held
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