ASX: All Trades In Oz Minerals At 1023-1024 AEST Under Review
10 August 2011 - 3:21AM
Dow Jones News
All trades in OZ Minerals Ltd. (OZL.AU) at 1023-1024 AEST
(0023-0024 GMT) are under review after the stock dropped 87% in
less than a second, the Australian Securities Exchange said
Wednesday.
Market data shows a series of trades going through at between
A$1.55 a share and A$1.70 a share at the time, against a more
typical price of just under A$12.00 a share.
Stock in the copper-gold miner fell from A$11.63 a share at
1024.02 AEST to A$1.55 less than a second later, before climbing
back to its former level in less than a minute.
Another trade at A$1.55 was seen at 1023.49 AEST, along with
several other trades below the stock's typical trading level.
Market data shows around A$74,000 worth of stock changing hands at
the unusually low price, worth around A$570,000 at more typical
prices.
Monday, shares in Rio Tinto Ltd. (RIO.AU) were cancelled after
the Australian listing of the company lost 98% in a matter of
minutes due to a trader error.
-By David Fickling, Dow Jones Newswires; +61 2 8272 4689;
david.fickling@dowjones.com
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