AAP Finance

Seven West, Syrah to slip from ASX 200

By AAP Newswire

Seven West Media and struggling graphite miner Syrah Resources will slip from the benchmark S&P/ASX200 after the Australian share market indices' quarterly rebalancing.

Education services provider Navitas will also be removed from the top 200 on June 24, pending shareholder and court approval of its $2.3 billion acquisition by an investment consortium.

The three will be replaced in the list by ship builder Austal, biotech Clinuvel Pharmaceuticals and industrial network company Service Stream.

Seven West's share price has dipped nearly 60 per cent since August and it has flagged a drop in full-year earnings of up to 10.9 per cent, with the free-to-air network blaming a softer advertising market.

Shares in the media company were 0.52 per cent lower at 47.25 cents at 1028 AEST.

Syrah's share price has fallen from $4.83 in January last year to $1.08 after a challenging year at its Balama operation in Mozamique.

Meanwhile, Afterpay Touch is set to enter the ASX100 along with Beach Energy, replacing Janus Henderson Group and Adelaide Brighton Corporation.

Property group Goodman will push supermarket giant Coles out of the ASX20.

The changes to the indices will apply from the start of trade on Monday June 24.