In afternoon trade the S&P/ASX 200 index is on course to follow the lead of international markets by posting a disappointing decline. At the time of writing the benchmark index is down 0.8% to 6,433.4 points.
Four shares that have fallen more than most today are listed below. Here's why they have dropped lower:
The Aristocrat Leisure Limited (ASX: ALL) share price has dropped over 2% to $29.02. A portion of this decline can be attributed to the gaming technology company's shares trading ex-dividend this morning for its 22 cents per share fully franked interim dividend. This dividend will now be paid to eligible shareholders on July 7. Also weighing on its shares today could be profit taking following a strong share price rally since the release of its half year results.
The Downer EDI Limited (ASX: DOW) share price has fallen by 8% to $7.28 after being downgraded to an underperform rating by analysts at Credit Suisse. The broker made the move after its Murra Warra wind farm project partner, Senvion, went into administration in Germany. Credit Suisse also trimmed the price target on the company's shares to $7.10.
The Liquefied Natural Gas Ltd (ASX: LNG) share price has continued its poor run and dropped a further 8% to a 52-week low of 30 cents. This latest decline means the liquefied natural gas producer's shares have lost 66% of their value since peaking at 88 cents in August. Weak LNG prices have weighed on the company's shares.
The Sydney Airport Holdings Pty Ltd (ASX: SYD) share price is down almost 3% to $7.36 after being downgraded by analysts at Goldman Sachs. According to the note, the broker has downgraded its shares to a neutral rating with a $7.35 price target amid concerns that it could be negatively impacted by capacity reductions by major airlines. Goldman believes investors should skip airports and invest in airlines.
