In afternoon trade the S&P/ASX 200 (Index: ^AXJO) (ASX: XJO) is down 0.2% to 5,845 points due to declines in almost all sectors.
Finishing the week deep in the red have been four shares in particular. Here's why:
The Fortescue Metals Group Limited (ASX: FMG) share price has tumbled 3% to $6.09 after iron ore prices fell sharply overnight. Whilst I am a big fan of the company, I do think recent declines in iron ore prices could be the start of even greater declines in the coming months. As a result I would stay clear of Fortescue and its peers for the time being.
The Qantas Airways Limited (ASX: QAN) share price has fallen almost 4% to $3.82 despite there being no news out of the airline. Today's decline could be attributable to a sharp rise in oil prices following U.S. airstrikes in Syria. The spot price for Brent crude oil has now gained over 10% in just the last two weeks.
The Reject Shop Ltd (ASX: TRS) share price has plunged 34% to $5.22 after the retailer provided an extremely disappointing trading update. The company advised that trading conditions remain weak and if things don't improve it expects to post a second-half loss of $5 million. As a result the company is unlikely to pay a final dividend.
The Vocus Group Ltd (ASX: VOC) share price has dropped 4% to $3.82. Today's decline means the telco company's shares have fallen just under 15% in the last 30 days. Considering its solid growth prospects, I think at the current price Vocus is great value for buy and hold investors.
