Myer dropped from the S&P/ASX 200

Company News

by Rachael Jones

Retail powerhouse Myer (ASX:MYR) looks set to fall out of the S&P/ASX 200 index by March 19 2018.

It’s the first time it has been pushed out of the index since its 2009 float.

The hierarchy of the S&P Dow Jones indices has been reviewed as a result of the March quarterly announcements just released.

The department store’s market value has fallen to $370 million this week - from $950 million last year.

Shares in Myer (ASX:MYR) are trading 2.75 per cent higher/lower at $0.44.

Rachael Jones

Finance News Network
Rachael comes to FNN after working for Fairfax Media covering international breaking news, including the global economy and politics. She joined FNN in February 2018. She has reported on Australia’s finance news for various organisations since 2000 and has also interviewed a number of key business players, including Bill Gates. Rachael has also worked across a number of countries, including the UK and the US.