As mentioned previously, PEB is included in the NZX50 with effect from today. Large volumes and a price spike in the last 15 minutes of trading, (the match process) is quite normal for any stock in the afternoon before index inclusion the next morning. Index tracking funds are required and mandated to make the switch to PEB as part of that index inclusion process before its officially included this morning. A temporary 10-20% price spike for a stock entering the NZX50 is not unusual at all and that's what happened this time, (from the date inclusion was first announced to yesterday afternoon's close.
Bookmarks