Shares of Caltex spiked 5% higher at the open as the ACCC ruled against the proposal for Woolworths to sell its portfolio of 527 service stations to BP; an estimated $1.8 billion deal.
After reaching a high of $35.00, CTX shares have now drifted lower but are still up over 4.0% at $34.80.
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The price structure is still under the December 5th high of $35.70, which reflects a “lower high” trading pattern.
Caltex
