UMC 0.00% $1.30 united minerals corporation nl

19th September, Possible this could be a trigger for drilling...

  1. 6,111 Posts.
    19th September, Possible this could be a trigger for drilling results etc...

    September 5, 2008 - 10:37AM


    Index provider Standard & Poor's has announced changes to its S&P/ASX indices, with the majority of inclusions to its major indices being resource stocks.

    Companies deleted from the major indices include troubled firms such as Babcock & Brown, Allco Finance Group, ABC Learning Centres, Challenger Financial Services, Octaviar (formerly MFS), and Centro Properties Group.

    Standard & Poor's Index Services associate director Simon Karaban said the majority of companies included in the S&P/ASX 300 were resource firms.

    ``The aggregate out-performance of resources stocks relative to the broader market over the last six months has significantly boosted the index eligibility of resources firms,'' he said.

    ``It therefore comes at no surprise that approximately 75% of the inclusions to the S&P/ASX 300 were resources-based securities, which includes energy and metals and mining stocks.''

    The S&P/ASX 200 and the S&P/ASX 300, together with component indices, have been reviewed as part of the September quarterly rebalance, Standard & Poor's said.

    The quarterly rebalance considers the aggregate market capitalisation and liquidity of stocks over the last six months as a basis for eligibility.

    Under the S&P/ASX 20, Newcrest Mining was added, while Stockland was removed.

    In the S&P/ASX 50, Incitec Pivot and Lihir Gold were included, while Mirvac Group and Babcock & Brown were removed.

    Additions to the S&P/ASX 100 included Primary Health Care and Arrow Energy. Challenger Financial Services Group and ABC Learning Services were withdrawn.

    Under the S&P/ASX 200 index additions included: Primary Health Care, Linc Energy, Om Holdings, Gloucester Coal, Australian Agricultural Company, Avoca Resources and Kingsgate Consolidated.

    Companies deleted from the S&P/ASX 200 were Premier Investments, Allco Finance Group, Perilya, APN/UKA European Retail Property Group, Coeur D'Alene Mines, Centro Properties Group and Octaviar.
    Other companies included in the S&P/ASX 300 are Mineral Resources, Eastern Star Gas, PrimeAg Australia, Apex Minerals, Molopo Australia, Brockman Resources, Giralia Resources, AJ Lucas Group, Cockatoo Coal, United Minerals Corporation, Moly Mines, Cape Lambert Iron Ore, Carbon Energy and Strike Resources.

    Removals include Credit Corp Group, Record Reality, Rubicon America Trust, Rubicon Japan Trust, Rubicon Europe Trust, Flexigroup, City Pacific and Australian Education Trust.

    Changes will come into effect from the close of trade on September 19, 2008.
 
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