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Why these 6 shares are getting CRUSHED today

The S&P/ASX 200 (Index: ^AXJO) (ASX:XJO) has suffered its biggest fall of the year so far today with a decline of 0.96% to 5,749 points.

Most sectors are feeling the pressure today, although the gold sector has been the market’s one shining light with a gain of 1.6%.

Six shares that have fared worse than most today, include:

Primary Health Care Limited (ASX: PRY)

Shares of Primary Health Care have slumped nearly 5% today after announcing that its CEO and managing director, Peter Gregg, will face court over allegations of misconduct while he was serving as an executive at Leighton Holdings (now Cimic Group Ltd (ASX: CIM)). Mr Gregg has denied the allegations, although Primary’s board is now reviewing the implications of this latest development.


CYBG is one of a number of UK-exposed shares that is being sold off today, after the British pound fell sharply overnight amid fresh concerns surrounding the UK’s future trading arrangements with the European Union. Shares of CYBG have fallen 3.5%, while shares of BT Investment Management Ltd (ASX: BTT) and Henderson Group plc (ASX: HGG) have suffered falls of 2.7% and 2.2%, respectively.

GWA Group Ltd (ASX: GWA)

Shares of GWA Group have slumped 7.3% today, despite the absence of any news from the company. In fact, the building fixtures and fittings company has not released any market-sensitive news since its AGM in October last year. However, some investors may be worried that the building construction cycle has now well-and-truly peaked and that GWA will begin to face a more difficult operating environment. There is also likely to be an element of profit taking in today’s move down, considering the shares have gained more than 40% over the past 12 months.

Paladin Energy Ltd (ASX: PDN)

Shares of Paladin Energy have crashed 13.7% lower today after the uranium miner was forced to announce a debt restructuring plan following further delays with the sale of its stake in the Langer Heinrich Mine. The company will now consider a plan to extend the maturities of its existing convertible bonds in addition to a highly dilutive US$145 million capital raising.

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Motley Fool contributor Christopher Georges owns shares of BT Investment Management Limited. The Motley Fool Australia has no position in any of the stocks mentioned. 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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