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NZX has today announced the results of the September Quarterly Index review. There will be no additions to or deletions from the headline NZX 50 Index, or other NZX Equity Indices, this quarter.
NZX conducts a full review of its equity indices, including the NZX 50 Index, once per quarter, to identify securities that should be added to or deleted from each index, and to update index weights for each security using the most recent available market data. Any changes resulting from Quarterly Index Reviews are effective on the first trading day of January, April, July and October each year. A preliminary announcement of any changes is made to the market approximately three weeks in advance of the index change.
To be automatically added to the NZX 50 Index, a security not in the index must rank better than 45th of the eligible securities; conversely a security in the index will be removed its ranking falls beyond 55th.
At the current Quarterly Index Review, market performance across the eligible securities has been sufficiently consistent that no index constituent changes are demanded.
To date in 2006, five companies have been added to the NZX 50 Index, being Goodman Fielder Limited, The New Zealand Refining Company Limited, Skellerup Holdings Limited, Ebos Group Limited, and Restaurant Brands NZ Limited. This compares with a total of eight changes to the NZX 50 Index in the 2005 calendar year.
Inclusion in or exclusion from an NZX Equity Index in no way reflects an opinion on any NZX Listed Issuer – index constituents are determined solely by the NZX Index Methodology.
