Why these 4 ASX shares have started the week in the red

The Premier Investments Limited (ASX:PMV) share price is one of four starting the week in the red. Here's why…

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Although it has given back some of its early gains, in afternoon trade the S&P/ASX 200 (Index: ^AXJO) (ASX: XJO) is on course to start the week with a gain of 0.1% to 5,687 points.

Four shares which haven't been able to follow the market higher and have started the week in the red are listed below. Here's why they are lower:

The Metcash Limited (ASX: MTS) share price has fallen almost 4% to $2.64 despite the wholesaler and distributor being the subject of a positive broker note this morning. According to the note, Morgan Stanley has retained its overweight rating and increased its price target to $3.00.

The Orocobre Limited (ASX: ORE) share price has tumbled 5% to $4.18. Australia's lithium miners have come under pressure recently after rampaging higher amid optimism on global lithium demand. While it isn't my first pick in the industry, I do think Orocobre could be one to watch in the future as electric vehicle usage causes lithium demand to increase exponentially.

The Premier Investments Limited (ASX: PMV) share price has fallen 2.5% to $13.40 following the release of its full-year results. Although I felt that the retailer delivered a solid result and provided bullish long-term guidance. The lack of any FY 2018 guidance may be the reason for today's negative reaction.

The Seven West Media Ltd (ASX: SWM) share price has dropped 5% to 68.7 cents. Although some of this decline may relate to disappointment around its failure to agree on a takeover deal for Prime Media Group Limited (ASX: PRT), the majority of the decline is attributable to its shares going ex-dividend this morning.

Motley Fool contributor James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia owns shares of Premier Investments Limited. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

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