My late husband, the Prof used to say, "There's no fool like a corporate fool". That goes in spades for the ASX with their decision to axe xgo. Looks like we're getting it or at least a version of it back. Well done M Bank! AnnaPSunday August 4, 10:40 pm Eastern Time Dow Jones Business News Australian Gold Council, Macquarie Launch New Gold Index
SYDNEY -(Dow Jones)- The Australian Gold Council and Macquarie Bank Ltd (MCQ - News) . ( A.MCQ) on Monday launched a new Australian Gold Index.
The new index, which will feature Australia's major gold mining companies, has been created to replace the S&P/ASX Gold index, which was terminated in July.
Macquarie resource analystsaid the index was calculated from the weighted returns of its 19 constituents, with the weighting adjusted every day based on the market capitalization of each company.
"The market capitalization is based on the closing price of each stock and no liquidity adjustment/weighting or daily turnover factors are used," Prentice said.
The index includes AurionGold Ltd (NYSE: AOR - News) . (A.AOR), Lihir Gold Ltd (LIH - News) . , Newcrest Mining Ltd (NEW - News) . (A.NEW), Normandy NFM Ltd (AMEX: NFM - News) . (A.NFM), Resolute Mining Ltd (NYSE: RSG - News) . (A.RSG) and Sons of Gwalia Ltd. (A.SGW).
