Two days of solid gains on the ALL Ordinaries (Index: ^AORD) (ASX: XAO) have come to end, with the market down 1.1%. US markets closed flat overnight after a volatile, rollercoaster ride.
In the Top 20, most stocks finished in the red, dragged down by the big four banks, all down more than 1%.
These 4 stocks fell even further than the market…
CSR Limited (ASX: CSR) saw its share price hammered down 5.8% to $2.77. The building materials group is heavily exposed to the building cycle, which has been recovering over the past two years. The company says residential construction remains strong, which should mean more good times ahead for CSR. That hasn't stopped the company's share price sliding 30% in the past six months – much of that appears to do with the sliding aluminium price and CSR's stake in the Tomago aluminium smelter. 40% of CSR's earnings come from aluminium.
Australian Pharmaceutical Industries Ltd's (ASX: API) share price sank 4.7% to $1.51. API is best known for its Priceline Pharmacy chain, selling everything from cosmetics and fragrances to personal care products, toiletries as well as vitamins and minerals. API's share price has gone virtually nowhere since breaching the $1.50 mark back in March, despite strong six monthly results to the end of June 2015.
Syrah Resources Ltd (ASX: SYR) share price slipped 4% to $2.65. The graphite miner is in the process of developing its huge Balama graphite and vanadium mine in Mozambique, Africa. Unfortunately for shareholders, shares have plunged 30% in the past three months, perhaps as Syrah has been grouped with all other commodities producers. Commodities benchmarks have hit multi-year lows recently, and many commodities are expected to see prices wallow for many years.
Vita Group Limited (ASX: VTG) saw its share price slide 3.4% to $1.835. Vita Group operates a number of retail stores on behalf of Telstra Corporation Ltd (ASX: TLS) as well as some of the telco's business centres. I named the company as my pick for October today, thanks to its cheap price, nice fully franked dividend and likely strong growth ahead. Thanks to today's fall, it looks even more attractive.
