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Source: ONE News
Pyne Gould Corporation Limited (PGC) has replaced the manufacturer of red band gumboots, Skellerup Holdings (SKL), on the benchmark sharemarket index NZX 50.
The change follows the latest index review by stock exchange operator NZX.
"The NZX 50 composition is on size of company and liquidity. PGC really did want to make it into the 50, and it just means that they've come in, Skellerup have moved out," says Craigs Investment Partners analyst Alexandra Dalzell.
"(There are) no changes within the companies, however there may be added interest in the stocks that are in those 50."
The change is effective as of January 18.
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