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Hot mid-cap stocks Afterpay Touch and Appen have joined the S&P/ASX 200 Index, joining chicken processor Ingham's Group as the winners from the June index rebalance. AMP will exit the top 20.
Asaleo Care, Iron Mountain and Retail Food Group will be dropped from the benchmark index, S&P confirmed on Friday.
Chief executive of Afterpay Touch Nicholas Molnar has seen his company move inside the ASX 200 before its first year on the boards.
Photo: James BrickwoodAfterpay and Appen will increase the amount of information technology stocks in the ASX 200 from 12 to 14, joining the likes of Xero and WiseTech Global.
The index rebalance comes at a welcome time for Ingham's Group, after its shares fell 9.1 per cent during Thursday's trade upon chief executive Mick McMahon announcing he will step down from his position. McMahon joined the then private company in 2015, leading the transition onto the ASX boards in late 2016.
Retail Food Group's fall outside of the benchmark index caps off a disappointing year for the franchise operator behind brands like Gloria Jeans and Crust Pizza, which was forced to downgrade its underlying profit forecasts by 54 per cent earlier this week.