Dexus shares drop as Car Group replaces stock in ASX 50 Index
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The news: Dexus shares dipped on the ASX after S&P Dow Jones Indices confirmed on Friday that the property investor will be removed from the ASX 50 Index from 23 December.
The numbers: Dexus shares were down 1.8% to $6.86 by 2pm.
Elsewhere, shares in Car Group edged up 0.6% to $40.27 after the Carsales owner was added to the ASX 50 Index.
Biotech company Clarity Pharmaceuticals, up 3.5% to $5.71, will be added to the ASX 200 Index, replacing Auckland-based telco Spark New Zealand, which lowered 0.6% to $2.63.
The context: Once every three months on behalf of the ASX, S&P Dow Jones Indices reviews the ASX indices to see if they still reflect the largest 20, 50, 100 and 200 companies by market capitalisation and if not, make adjustments ahead of the upcoming quarter.
There were no changes to the ASX 20 Index or the ASX 100 Index.
The source: ASX announcement
