Every quarter, S&P Dow Jones Indices announces changes to the S&P/ASX Indices.
On Friday, the financial market indices provider announced its latest changes that will become effective prior to the open of trading on Monday 18 March.
These changes were revealed following its March quarterly review and will see some big names entering and exiting the major indices.
Earlier today, we looked at the new additions and the exits from the benchmark ASX 200 index.
Now let's see what changes are being made to the illustrious ASX 100 index.
ASX 100 index changes
According to the release, travel agent giant Flight Centre Travel Group Ltd (ASX: FLT) and high-flying health imaging technology provider Pro Medicus Limited (ASX: PME) will be joining the index in two weeks.
They will be replacing alumina producer Alumina Ltd (ASX: AWC) and Region Re Ltd (ASX: RGN). It was previously known as Shopping Centres Australasia Property Group and is an internally managed shopping centre focused real estate investment trust.
While being kicked out of the ASX 100 index could be a blow to Region, it probably won't mean much for Alumina. That's because it could be leaving the ASX boards in the not so distant future.
Last week, the company received a non-binding, indicative, and conditional proposal from Alcoa Corporation (NYSE: AA), and the two parties entered into a transaction process and exclusivity deed.
What else was announced?
In other news, there has been one change made in the ultra-exclusive ASX 50 index.
Joining the index later this month will be insurance giant QBE Insurance Group Ltd (ASX: QBE). It will be taking the place of gold miner Newmont Corporation (ASX: NEM), which has been demoted.
