Esg down 20% in two weeks ASX down 4% in two weeks
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That's comparing Apples and Oranges. go to http://www.google.com/finance?q=INDEXASX:XEJ then type ESG into the compare box (can also type in XJO for the ASX 200 index to compare) Depending on your timeframe ESG has either massively outperformed or marginally underperformed (last 2 weeks) the broader energy index which is also under performing the broader market.
With what is expected to be positive news around the corner I'd have thought we'd see greater relative strength when compared to the XEJ, we shall soon see.
STO haven't taken as large an equity stake in any other company, with ESG right on their doorstep it's a logical move for them to go for the lot, since the 20% purchase ESG brought a T/O Director onto the board who has a long history of corporate action. The fly in the ointment is the chart, the chart of WEB (I'm not a WEB holder) gives you an idea of a growing company with takeover speculation surrounding it, that chart is a lot different to ESG's.
ESG Price at posting:
79.0¢ Sentiment: Hold Disclosure: Held
