Prime Media, NZME and Salmat fall out of All Ords Index
Prime Media Group, NZME and Salmat have all been removed from the All Ordinaries (XAO) due to the recent performance of the companies.
The All Ordinaries is considered a total market barometer for the Australian stock market and contains the 500 largest ASX-listed companies by way of market capitalisation.
The three companies will all drop off the lists as of March 20 as a result of the March quarterly review.
Prime Media Group (ASX: PRT) has seen its share price remain relatively flat over the past three months, starting 2017 with a share price of $0.31, climbing to a high of $0.33. When the market closed yesterday, the media company’s share price was $0.30, giving the company – which is the owner of regional television network Prime7 in eastern Australia and GWN7 in regional Western Australia – a market capitalisation of $108.07m.
NZME (ASX: NZM) also will fall out of the All Ords list later this month, despite improved performance on the stock exchange over the past three months.
The company – which operates newspapers, radio networks and websites in New Zealand – started the year with a share price of $0.55. At close yesterday, the company had a share price of $0.77.
For marketing services company Salmat, the past three months has seen very modest share price growth with the company kicking the year off with a share price of $0.56, climbing to a peak of $0.66 at the end of January. At close yesterday it had a share price of $0.64 giving it a market capitalisation of $127.78m.
Looking at the ASX100 – which is an index that represents Australian large and mid-cap securities and contains the ASX Top 100 companies by way of float-adjusted market capitalisation – health and wellness brand Blackmores has dropped off the list.
The brand has recently seen its share price drop, peaking at the end of February with a share price of $118.34 and dropping to just over $100 a share at the start of March. At close yesterday, Blackmores had a share price of $100.12, giving it a market capitalisation of $1.72bn.
Over on the ASX50 – which represents the large-cap component of the Australia sock market and contains the ASX Top 50 companies by way of float-adjusted market capitalisation – Coca-Cola Amatil and Seek Limited have fallen off the index.
Coca-Cola Amatil – which is the bottling company for Coca-Cola – currently has a share price of $10.35, having started the year with a value of around $10.21. The company has a market capitalisation of $7.90bn.
Seek Limited – which runs employment marketplace Seek – kicked off 2017 with a share price of around $15, peaking at $15.92 towards the end of February. At close yesterday, the company had a share price of $15.09 giving it a market capitalisation of $5.25bn.
Looking elsewhere on the ASX, Ten Network Holdings has seen its share price struggle in the past month. The TV company started the year with shares worth close to $1, however since the middle of February prices have dropped – reaching a low of $0.53 on Wednesday. At close yesterday the company’s share price was $0.60 giving it a market capitalisation of $217.29m.
Miranda Ward worked for Mumbrella from 2013 to 2017, eventually becoming deputy editor. Miranda joined Mumbrella in September 2013 from Sky News.
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