It hasn't been a great day for investors with the S&P/ASX 200 (Index: ^AXJO) (ASX:XJO) reversing yesterday's gains and now trading 0.91% lower to 5,233 points.
It appears the uncertainty from the weekend's Federal election is starting to have an impact on some sectors and investors are remaining cautious ahead of today's RBA rate decision.
These four shares have fallen even harder than the broader market today.
Mantra Group Ltd (ASX: MTR)
Shares of Mantra have lost more than 8% today despite the company not releasing any news. It appears investors are reacting to a broker downgrade from Credit Suisse which now rates the shares as neutral. The shares have been under pressure since the start of the year and have now fallen around 41% from their 52-week high of $5.26. Investors are clearly becoming more concerned that technology disruptors like Airbnb could take market share away from the accommodation provider, although evidence of this is yet to surface. Mantra recently re-affirmed its full year earnings outlook and investors will be keen to see what guidance the company provides for FY17 when it releases its results next month.
BT Investment Management Ltd (ASX: BTT)
BT (along with other companies exposed to the UK) is once again under pressure today with investors still concerned about the potential impact of Brexit on the company's profits. BT's shares have lost around 3.9% today and look as though they could be heading back towards their 52-week low of $7.30. The Australian dollar has also strengthened against the British pound over recent days and this is also having a negative impact on those companies with operations in the UK.
Domino's Pizza Enterprises Ltd. (ASX: DMP)
Shares of Domino's have lost more than 2.6% today after reports surfaced that the pizza maker could face a 24% hit to its Australian earnings if it is forced to start paying penalty rates to its employees. The Australian Financial Review is reporting that Domino's is currently in the process of negotiating a new enterprise agreement which may force franchisees to pay penalty rates. This would obviously have a negative impact on the overall operations of Domino's, although I suspect the company would continue to find new avenues to drive earnings growth.
Harvey Norman Holdings Limited (ASX: HVN)
Consumer confidence has taken a hit over the last week and this has seen Harvey Norman's shares fall by around 4.7% today. The latest ANZ-Roy Morgan consumer confidence index revealed a drop in confidence over the last week thanks to the uncertainty created by the Federal election and Brexit. Australian retail sales in May also came in below expectations today with growth of just 0.2%. Both of these factors are today weighing on the shares of Harvey Norman and other discretionary retailers like JB Hi-Fi Limited (ASX: JBH).
