The Australian Securities Exchange (ASX) has dropped 11.1 points at the open this morning (26 June) by a 0.13% decrease to 8,548.1 points despite a July rate cut a near certainty according to Australia’s main banks.
The materials sector is on par with the platform, decreasing 0.08% along with seven other sectors on the S&P/ASX200.
Despite this overall decrease, PLS (ASX:PLS), formerly known as Pilbara Minerals, has jumped 4.41% to a share price of $1.28 after listing Vanguard Group as a substantial holder.
Liontown Resources (ASX:LTR) is also up 3.67% to a trading price of $0.70 on the tail of no news.
The S&P/ASX200 is Australia’s leading share market index and contains the top 200 ASX-listed companies in terms of market capitalisation, and accounts for about 80% of the country’s equity market. The index is designed to measure the performance of the 200 largest index-eligible stocks listed on the ASX by float-adjusted market capitalisation.
It is recognised as the institutional investable benchmark in the country.
Write to Maddison Elliott at Mining.com.au
Images: Australian Securities Exchange
