In that case, if we look at the day ranges:
PLS +3.1% to -1.4% (finished -1.4% down)
LTR +5.8% to +1.3% (finished +2.6% up)
Given that the lead from Wall Street & China market close on 19/8 was the same (i.e. macro factors the same), the differential between the two stocks was at the micro level. I am suggesting that this is possibly due to stock rotation as some investors may see better value investing in LTR looking forward as they are better valued (again another subjective assessment).
There's an old saying that is relevant here: "follow the money". Have a look at the volume on LTR today versus its daily trading average versus PLS. There was a huge 28.2m LTR trade on Chi-X this morning whereas for PLS it was a very quiet day in comparison.
Good News & Bad News, page-45176
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Last
$3.16 |
Change
0.170(5.69%) |
Mkt cap ! $9.515B | |||
| Open | High | Low | Value | Volume |
| $3.10 | $3.20 | $3.05 | $117.6M | 37.50M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 7 | 72180 | $3.15 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $3.17 | 222212 | 12 |
View Market Depth
| Last trade - 16.10pm 27/09/2024 (20 minute delay) ? |
| PLS (ASX) Chart |