It is that time of the year again when the Australian share market gets a shake-up.
That's because S&P Dow Jones Indices has just announced changes in the S&P/ASX Indices that will be effective prior to the open of trading on June 23 following the June quarterly review.
Let's see which ASX 20, ASX 50, ASX 100, and ASX 200 shares are being impacted by the changes.
ASX 20 index
There has been one change to the exclusive ASX 20 index.
That change will see the under pressure James Hardie Industries plc (ASX: JHX) dumped from the index later this month after falling 30% from its 52-week high amid concerns over its proposed acquisition of AZEK Company Inc (NYSE: AZEK).
It will be replaced by supply chain solutions company Brambles Ltd (ASX: BXB). Its shares are up over 17% since the start of the year.
ASX 50 index
There was also one change to the illustrious ASX 50 index.
This will see gold miner Evolution Mining Ltd (ASX: EVN) replace the embattled lithium miner Pilbara Minerals Ltd (ASX: PLS) when the ASX 50 index rebalances later this month.
ASX 100 index
S&P Dow Jones Indices will be making two changes to the ASX 100 index at the June quarterly rebalance.
Heading out of the index this month will be uranium miner Paladin Energy Ltd (ASX: PDN) and fuel retailer Viva Energy Group Ltd (ASX: VEA).
Their market capitalisations have shrunk over the past 12 months after their shares dropped 53% and 40%, respectively.
Replacing them in the index will be gold miner Perseus Mining Ltd (ASX: PRU), which is up 64% since last year, and Pinnacle Investment Management Group Ltd (ASX: PNI), which is up more than 50% over the same period.
ASX 200 index
Finally, the benchmark ASX 200 index is making two changes at this quarterly rebalance.
Heading out of the index will be struggling healthcare company Healius Ltd (ASX: HLS) and coal miner Stanmore Resources Ltd (ASX: SMR).
It seems that heavy declines have led to their market capitalisations falling below what is required for inclusion in the benchmark index. Healius shares are down almost 40% and Stanmore Resources shares are down over 40% since this time last year.
Replacing them in the ASX 200 index will be shipbuilder Austal Ltd (ASX: ASB) and furniture retailer Nick Scali Limited (ASX: NCK). Their shares are up 157% and 34%, respectively, over the past 12 months.
