Fletcher Building plunges more than 9% after three-day halt

The news: Fletcher Building shares have tanked more than 9% after a multi-day trading halt over a public stoush with WA builder BCG. The two companies have been shifting blame over the cause of thousands of burst pipes manufactured by Fletcher subsidiary Iplex and installed by BCG.

The numbers: Fletcher Building shares were fetch $4.035 shortly after midday AEDT on Monday, down 9.4% since the trading halt, which began last Wednesday morning. Iplex pipes have been installed in roughly 12,000 homes is Western Australia, and a similar number elsewhere in the country.

The context: The matter has been referred to the ACCC. Last week Fletcher Building requested trading be halted until it provided a response to BCG's allegations of faulty manufacturing.