From the SMH blog today:
Miners are out and tech is in. That’s the conclusion from our analysis of who is in and out of the All Ords when S&P does its quarterly rebalance of the index from March 21.
The waning of the mining boom is being felt acutely among smaller resource plays, with three quarters of the companies exiting the All Ords index in the upcoming reshuffle either miners or energy firms.
Consumer and financial stocks dominate the incoming names, particularly technology firms. Only 13 per cent of the entrants to the All Ords later this month are resource stocks.
The biggest newcomer to the All Ords is aluminium firm Alcoa, followed by Kiwi tech darling Xero and recently listed Veda.
Eleven of the newcomers could be classified as technology, including communications and computing, and another two are biotech.
