Index Reshuffle May Benefit Abacus, Charter Hall and Silex

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By Rudi Filapek-Vandyck

According to market strategists at Morgan Stanley the upcoming index reshuffle by Standard & Poor’s may spell bad news for struggling IT/telecom service provider Commander (CDR), equally struggling green energy developer Energy Developments (ENE), and Compass Resources (CMR), explorer and developer of uranium and base metals resources.

Morgan Stanley believes all three could lose their spot inside Australia’s major share index. The three companies that seem poised to replace these three companies are, on the broker’s calculations, Abacus Property (ABP), Charter Hall (CHC), and Silex Systems (SLX).

Standard & Poor’s is expected to make an announcement on September 7 with implementation from any changes announced from September 21.

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