Following yesterday's sharp decline, the S&P/ASX 200 (Index: ^AXJO) (ASX: XJO) has responded positively and in afternoon trade is up 0.3% to 5,701 points.
Four shares which have gone against the grain today and fallen lower are listed below. Here's why they have sunk like stones:
The Asaleo Care Ltd (ASX: AHY) share price has fallen 7% to $1.55 despite there being no news out of the personal care company. Despite today's drop Asaleo's share price has still managed to gain 4% year-to-date thanks to a better-than-expected full-year result in February.
The Fletcher Building Limited (Australia) (ASX: FBU) share price has declined 4% to $7.29. Today's drop means the construction giant's shares have now fallen over 13% this week. The announcement of a big downgrade to its full-year earnings guidance earlier this week is the reason for the decline.
The Perseus Mining Limited (ASX: PRU) share price has dropped 4.5% to 32.5 cents. Following a sharp rise yesterday, Australia's gold miners have been sold off today. At present the spot gold price is fetching US$1,245 an ounce, up around 4% since this time last week.
The Villa World Ltd (ASX: VLW) share price has tumbled 4% to $2.28 following the property developer and housing provider's successful completion of a $20 million placement of shares at $2.25 per share. Management intends to use the funds to take advantage of acquisition opportunities as and when they eventuate.
