James Hardie's Australian shares tumble 13% as MSCI cuts index listing

James Hardie Industries

06/11/2025 02:54

** ASX-listed shares of James Hardie Industries JHX.AX down 12.7% at A$25.745 apiece, their lowest point since late-June 2020

** Stock down as much as 17.2% to A$24.410, the lowest since late May 2020, at the start of trading on Thursday, before trading came to a halt

** Stock marks its worst intraday drop since August this year

** MSCI removes JHX CDIs from its Australia Index, to be implemented as of the close of November 24

** U.S.-based peer Trex TREX.N on Wednesday downgraded its FY25 sales outlook to $1.15 billion-$1.16 billion, from previous forecast of $1.21 billion - $1.23 billion

** TREX also missed third-quarter sales and profit estimates

** JHX is top loser in the benchmark ASX200 index .AXJO, which is trading 0.2% higher, as of 0243 GMT

** JHX has lost over 49% this year, including the day's moves

 (Reporting by Kumar Tanishk in Bengaluru)

 ((Tanishk.Kumar@thomsonreuters.com; X: @thatstanishk http://www.x.com/thatstanishk;))