James Hardie shares continue to sink after reemerging from trading pause
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More news: James Hardie shares continued to tumble after returning from a trading pause this afternoon.
Shares were down 13.5% to $25.50 at 3:26pm AEDT, having paused trading following a 9.4% drop in the opening minutes of today's session.
The company told the ASX that its share price "may have been affected" by a Bloomberg report which claimed that the MSCI Australia Index will remove its shares later this month.
James Hardie unaware of reason for 9% selloff, notes Bloomberg report
More news: James Hardie said it is not aware of any information that may have caused its share price to briefly tank 17% this morning, before the company paused trading.
In response to an ASX price query, the building products group said its shares "may have been effected" by a report by Bloomberg prior to the start of trading, which stated that James Hardie shares will be deleted from the MSCI Australia Index on 24 November.
The shares price clawed back some losses prior to the trading pause, leaving it 9.4% lower than its previous closing price at $26.70.
James Hardie pauses trading after tanking 10%
The news: Embattled building products group James Hardie has paused trading on the ASX after its shares tumbled more than 9% at the open.
The numbers: James Hardie shares dropped 9.4% before pausing trading at 10:15am AEDT. The stock is down 48% this calendar year.
The context: An ASX release said trading in the shares will be temporarily paused pending a further announcement.
