Star performer Mantra joins the ASX 200 club
GOLD Coast-based holiday accommodation provider Mantra is among the newest entrants to the Australian share market’s equivalent of the hall of fame — the benchmark ASX 200 index.
Mantra is a star performer with its shares up 48 per cent since this time last year.
Engineering software provider Altium, retirement village operator Gateway Lifestyles, shipbuilder Austal, auto-parts retailer Burson Group and software developer MYOB will also join the coveted “200 club” later this month following the latest quarterly review by financial research house Standard & Poor’s.
S&P compiles the index taking into account market value and liquidity, which effectively measures how frequently a stock is traded.
The companies dumped from the ASX 200 in the latest reshuffle include struggling mining services group Bradken, engineering group UGL, oil and gas company Senex Energy, and retailer Kathmandu.
Wholesaler Metcash has been a victim of the supermarket wars and as of September 18, it will no longer feature in the top 100 listed companies, along with waste collector Transpacific Industries.
The make-up of the country’s 50 biggest companies remains unchanged. AUSTRALIAN shares eked out a positive finish yesterday but the month has not got off to a good start.
The ASX 200 rose 12.8 points to 5040.6 points yesterday. But the benchmark index is down 3.2 per cent since the start of the month on Tuesday.
It followed an 8.6 per cent slump in August.
Quay Equities head of trading Tristan K’Nell said investors pressed the pause button yesterday.
“(There’s) a bit of caution – the market’s been spanked around this week,” Mr K’Nell said. The big miners lifted yesterday as bargain hunters moved in. BHP Billiton rose 37 to $24.69 and Rio Tinto 49 to $49.76. The big banking stocks all retreated.