Here’s why these 4 ASX shares got thumped today

Credit: Alrosa

The S&P/ASX 200 (Index: ^AXJO) (ASX: XJO) opened lower today, but has fought back and is currently clinging onto a small 0.3% gain to 5,340 points.

This is quite impressive considering the large declines in the energy and materials sectors which are both nursing losses of almost 3% today.

There have been four shares in particular that have acted as a drag on the market today. Here’s why:

BHP Billiton Limited (ASX: BHP) shares are down over 4% to $17.62 today following a terrible night for commodity markets. This heavy fall came as a result of both iron ore and oil prices falling overnight. Of course, BHP Billiton was not alone. Rio Tinto Limited (ASX: RIO) and Fortescue Metals Group Limited (ASX: FMG) have suffered from steep declines today as well for the same reasons.

BHP Billiton shares are now down by just under 2% in 2016.

Greencross Limited (ASX: GXL) has suffered a sharp decline of almost 7% to $7.05 today. This appears to be related to recent news that Quadrant Private Equity has sold its stake in the pet care group. Greencross had been subject to a takeover bid of $6.45 per share, with many speculating an improved offer was coming. But by selling their stake it would appear that Quadrant is not interested in a takeover now.

Despite this Greencross shares are still up 8% in the last 12 months.

Prophecy International Holdings Limited (ASX: PRO) saw its share price drop again today, this time by over 5% to $1.18. The shares have been under a lot of selling pressure since it downgraded its 2016 full year forecast last week. The IT security company is now expecting EBITDA to come in between $5 million and $7 million, compared to its earlier forecast of $8.9 million.

Prophecy has now lost almost 39% of its market value since the turn of the year.

SEEK Limited (ASX: SEK) has not had the best of days today, dropping almost 4% to $16.54. Whilst there was no news released today, the ANZ Job Advertisements data for April was released yesterday showing job advertisements down 0.8% month-on-month. Economists had been expecting a small gain. It is worth noting that Freelancer Ltd (ASX: FLN) jumped by almost 4% today, possibly suggesting that the job advertisements data is not related to SEEK’s share price fall.

SEEK has still managed to gain over 7% so far in 2016.

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Motley Fool contributor James Mickleboro has no position in any stocks mentioned. The Motley Fool Australia owns shares of Prophecy International Holdings Ltd.. 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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