The S&P Dow Jones Indices June quarterly rebalance is out, and as expected there has been a shake up in the composition after some well publicised underperformance, in particular from AMP, Retail Food Group and Myer.
Changes will take effect at the open of trading on 18 June 2018.
First up is the S&P/ASX 20 Index which has welcomed Amcor Ltd (ASX:AMC) while dismissing AMP Ltd (ASX:AMP).
AMP shares continue to hit fresh 12-month lows, last changing hands at $3.62, or 33% lower than its valuation just three-months ago.
Moving to the S&P/ASX 50 Index, entering is Cochlear Ltd (ASX:COH) while Incitec Pivot Ltd (ASX:IPL) exited.
Incitec shares have been drifting over the past six-months, last trading at $3.51, or 14% lower than its 12-month high in December 2017.
There was no change to the S&P/ASX All Australian 50.
In an interesting move in the S&P/ASX 100 Index, coming back in is Whitehaven Coal Ltd (ASX:WHC), at the expense of GrainCorp Ltd (ASX:GNC).
Whitehaven has been a star performer over the past year, more than doubling in valuation to $5.58.
Last month Whitehaven entered into an agreement to acquire the remaining 25% interest in the Winchester South metallurgical coal project.
Movement in the broader indices
The S&P/ASX 200 Index delivered three changes, and heading in are Afterpay Touch Group Ltd (ASX:APT), Appen Ltd (ASX:APX) and Inghams Group Ltd (ASX:ING).
The most notable exit was the besieged Retail Food Group Ltd (ASX:RFG), whose shares continue to tumble as the company struggles with the underperformance of its franchise model, and ongoing negative sentiment regarding both retail franchising and the company in particular.
In its most recent earning update, the company outlined that it expects FY18 underlying NPAT to be $34.5 million and statutory NPAT to be a loss of $87.6 million, taking account of the substantial impairment charges booked at 31 December 2017.
Shares last traded at $0.67, compared to sitting comfortably above $5 this time last year.
Also leaving the index was Asaleo Care Ltd (ASX:AHY) and Iron Mountain Incorporated Ltd (ASX:INM).
The final update is the S&P/ASX All Australian 200 Index.
Heading in are BIN Bingo Industries Ltd (ASX:BIN), Clean TeQ Holdings Ltd (ASX:CLQ) and Kidman Resources Ltd (ASX:KDR), while making room is Australian Agricultural Company Ltd (ASX:AAC), Myer Holdings Ltd (ASX:MYR) and Retail Food Group Ltd (ASX:RFG).