SYDNEY — Shares of PLS Group Ltd., Australia's largest lithium producer, fell 8% on Thursday. A planned removal from a major MSCI index and a weak session for commodity stocks drove the decline.

PLS shares closed down 25 Australian cents, or 8.07%, at A$2.85. The stock traded between A$2.83 and A$3.12, with more than 34 million shares changing hands. PLS has a market value of about A$9.2 billion.

The decline erased much of Wednesday's 6.5% gain, which had carried the stock to a near one-month high. Analysts said that rally was driven largely by short-covering rather than new fundamental news.

Index provider........

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