NZX50 - Additions and Removals

[Beagle]

You guys realise that it isn't based on a decision by someone? Read how it is determined and you can calculate exactly who will be added and removed.

Not that easy as its based on average free float market cap for the last six months and certain liquidity criteria as well. I tried to absorb it all and nearly lost the will to live...

[Lewylewylewy]

I used to work in a govt department, which is proof that you can exist without the will to live. In summary: come on Roger, you can sus it out 😃

[Beagle]

I think I have this sussed already, see posts above. SCL meet the liquidity requirements.

[Joshuatree]

On a side note NZX50 is still the best performing bourse over the last year out of re 28 Asia Pacific stock indexes with a 1 year return of 8.67%. Only other ones in the green beingAustralia All Ords (just), Indonesia JSX, Phillipines PSE and Thailand SET.

[Beagle]

Good to know JT.

Nice run up in SCL, is the word out on entry to NZX50 or is it the rise in the lead-up to the annual general meeting and the anticipation of a very positive FY16 update at same or some combination of the two ? you folks be the judge.

[Balance]

Good to know JT.

Nice run up in SCL, is the word out on entry to NZX50 or is it the rise in the lead-up to the annual general meeting and the anticipation of a very positive FY16 update at same or some combination of the two ? you folks be the judge.

Better than expected trade surplus announced today - 'Sales of fruit rose 16 per cent to $418 million in April from the same month a year earlier, led by a 53 per cent jump in sales of gold kiwifruit as volumes climbed 29 per cent, while apple exports rose 29 per cent in value terms and 13 per cent in volume. Annual fruit exports climbed 33 per cent to $2.42 billion, the fastest pace among the country's 12 export commodities that achieve sales of at least $1 billion'.

[Beagle]

Better than expected trade surplus announced today - 'Sales of fruit rose 16 per cent to $418 million in April from the same month a year earlier, led by a 53 per cent jump in sales of gold kiwifruit as volumes climbed 29 per cent, while apple exports rose 29 per cent in value terms and 13 per cent in volume. Annual fruit exports climbed 33 per cent to $2.42 billion, the fastest pace among the country's 12 export commodities that achieve sales of at least $1 billion'.

WOW many thanks for that Balance.

[Snoopy]

From the NBR today for those without access:

The companies which make up the benchmark Top 50 Index are under review and it appears likely that Steel & Tube Holdings [NZX: STU] will be turfed out by the recently listed Tegel Group [NZX: TGH].
The results of the review are due to be announced after the market closes on Friday, June 10.
Forsyth Barr quantitative analyst Matthew Leach says the imminent exit of another couple of stocks, Coats [NZX: COA] and Nuplex [NZX: NPX], also makes it likely that Scales Corporation [NZX: SCL] and Tourism Holdings [NZX: THL] will join the Top 50.

If Tegal has only 55% free float then the article can't be right, can it?

SNOOPY

[Fox]

If Tegal has only 55% free float then the article can't be right, can it?

SNOOPY

TGH free float cap of $330m, compared with SCL cap of $470m. Both have similair liquidity (excl. first few trading days of TGH), so I don't see how TGH would rank above SCL. Maybe it has something to do with brand/company recognition, but that is hardly an objective measure.

[Beagle]

TGH free float cap of $330m, compared with SCL cap of $470m. Both have similair liquidity (excl. first few trading days of TGH), so I don't see how TGH would rank above SCL. Maybe it has something to do with brand/company recognition, but that is hardly an objective measure.

Based on average market cap over the last 6 months. Likewise liquidly. I think TGH a certainty to replace NPX is due course when it gets delisted as by then, approx. Nov we would have had the requisite 6 month trading period.
(Disc: Pure speculation on my part...sorry but I don't have time to put the entry to NZX50 rules under an electron microscope). I continue to believe SCL the favourite for entry and still my #1 market position.