Blackmores promoted to the ASX100

Vitamins supplier Blackmores has replaced caterer and cleaner Spotless in the share market's top 100 companies.

Blackmores

Vitamins supplier Blackmores has reached the share market's top 100 companies. (AAP)

Vitamin and supplement supplier Blackmores has been promoted to the Australian share market's list of the top 100 companies, replacing caterer and cleaner Spotless.

The move was among changes to the S&P/ASX indices announced on Friday in their quarterly review.

Blackmores' share price is currently around $149, giving it a market value of about $2.56 billion.

At the start of the year, Blackmores shares were about $220.

Blackmores is making significant inroads into the Chinese market, and the company has said that the Chinese consumer is key to the group's growth strategy.

Spotless' shares are currently trading around $1.18, giving it a market capitalisation of about $1.3 billion.

They were trading at about $2.20 at the start of December but plummeted to $1.06 after a profit warning.

Spotless said at the time that profit growth from new business had slowed, partly reflecting tighter economic conditions.

In other changes to the indices, the A2 Milk Company was added to the S&P/ASX200 index and Liquefied Natural Gas Ltd was removed.

A2 Milk's share price is trading at about $1.43, giving it a market capitalisation of about $1.02 billion.

A2 Milk also has a strong exposure to the growing market in China.

The company produces milk containing only the A2M protein - and no A1 protein - which some early research has shown may be more digestible for people with lactose intolerance, such as many Chinese.

LNG Ltd is trading around $1.07, with a market capitalisation of about $541 million.

LNG Ltd owns technology used to improve the performance of liquefied natural gas plants and also develops LNG export terminals.

The company has seen its share price shrink since July 2015, when it was trading around $4.30.

The company booked a net loss of $80.2 million for the six months to December 31, 2015, compared to a net loss of $26.9 million a year earlier.


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Source: AAP


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