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Argosy Minerals, Xanadu Mines, Metro Mining and Danakali promoted into S&P/ASX All Ordinaries

Standard & Poor's have completed their quarterly rebalancing of ASX indices.
The S&P headquarters in New York City
The rebalance seemed to be bullish resources and mining services and bearish retail

Standard & Poor's have today made their changes to the S&P/ASX indices, effective at the open of trading on March 19, 2018 as a result of the March quarterly review.

At this rebalance, the entire S&P/ASX index hierarchy is reviewed, including the All Ordinaries (XAO).

South32 replaces QBE in the S&P/ASX 20

Resources company, South32 Limited (ASX:S32) has replaced insurer QBE INSURANCE GROUP LIMITED (ASX:QBE).

This marked the only change at the larger end of the Australian market as there were no changes to the S&P/ASX 50.

Fairfax Media bows out of the S&P/ASX 100

There were two new additions to the S&P/ASX 100 in Cleanaway Waste Management (ASX:CWY) and Xero (ASX:XRO) which means there were also two removals from the index.

In this case, rapidly shrinking Fairfax Media (ASX:FXJ) and troubled telecommunications company Vocus Group (ASX:VOC) were removed from the index.

Explorers entering the All Ordinaries

A number of ASX mineral explorers and developers have entered the S&P/ASX All Ordinaries.

Lithium brine project developer, Argosy Minerals (ASX:AGY) and copper-gold explorer Xanadu Mines (ASX:XAM) were both promoted.

As were Queensland bauxite miner Metro Mining (ASX:MMI) and Potash project developer Danakali (ASX:DNK).

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