ASX All Ordinaries (ASX: Index: ^AORD) (ASX: XAO) fell for the second consecutive day today, losing 0.5%. Most of the falls were thanks to one giant biotech and a number of large energy, resources and insurance stocks.
Still, it wasn't as bad as these four, which all fell more than 10% today…
Academies Australasia Group Ltd (ASX: AKG) plummeted more than 37% after the education provider reported a 64% fall in net profit. The company said that it was forced to make substantial refunds and saw reduced enrolments during the six months to December 2014. Add in the uncertainty in the sector following the Vocation Ltd (ASX: VET) issues, and investors are obviously jumping ship.
Mining products supplier Bradken Limited (ASX: BKN) continues to fall, losing another 12.7% today to close at $2.14. Yesterday shares plunged 25% after the company said it would not pay a dividend, following a 64% decline in underlying net profit. It seems potential suitors for the company have all walked away – given the issues the mining services sector is facing.
Mineral Deposits Limited (ASX: MDL), a mineral sands company, saw its shares hammered down 10.7% to 75 cents, despite no news from the company. Mineral Deposits owns 50% of the Grande Côte mineral sands operation in Senegal, West Africa, in conjunction with French company Eramet. Late last month the company reported that mining operations continue to ramp up operations and were at 61% of capacity in December 2014.
Peninsula Energy Ltd (ASX: PEN) fell 10.5% to 1.7 cents. Peninsula is developing uranium assets, primarily in the US state of Wyoming. The company recently raised $69.4 million from institutional investors and retail shareholders, which will be used to fund the remaining construction and ramp up to positive cashflow operations at the Wyoming projects.
