Why these 4 shares are falling today

The market is falling today, but shares such as Australia and New Zealand Banking Group (ASX:ANZ) are underperforming.

| More on:
a woman

You’re reading a free article with opinions that may differ from The Motley Fool’s Premium Investing Services. Become a Motley Fool member today to get instant access to our top analyst recommendations, in-depth research, investing resources, and more. Learn More

It hasn't been a great day for local investors today with the S&P/ASX 200 (Index: ^AXJO) (ASX:XJO) reversing most of yesterday's gains with a fall of 0.6% to 5,921 points.

The financial and gold sectors are the clear losers today, while the consumer staples and energy sectors have managed to eke out some small gains.

Four shares that that have been crushed today, include:

MG Unit Trust (ASX: MGC)

The Murray Goulburn share price has crashed more than 12% today after the milk producer said it will close down three processing plants and write off $148 million in debts owed by farmers. Unfortunately, the outlook for the dairy sector is still underwhelming, with Murray Goulburn noting that it is still experiencing weaker trading conditions and will suspend its dividend to support its balance sheet.

Baby Bunting Group Ltd (ASX: BBN)

The Baby Bunting share price has fallen more than 4% today, despite the absence of any news from the company. The shares are now at a new 52-week low and have fallen by more than 27% since the start of the year. Most of the decline can be attributed to management's guidance for slowing comparable sales growth for the remainder of FY17, although I think the baby retailer has also been impacted by the negative sentiment caused by Amazon's pending arrival into Australia.

Catapult Group International Ltd (ASX: CAT)

The Catapult share price has fallen more than 4.3% today after the sports analytics company said that it had successfully completed a $14 million placement. The new shares will be issued at $2 a share and the company will look to raise another $3 million through a share purchase plan. Catapult will use the new funds to make two acquisitions and support existing working capital requirements. Unfortunately, retail investors may decide to sit this capital raising out considering the shares are currently trading at just $1.97.

Australia and New Zealand Banking Group (ASX: ANZ)

The ANZ share price has fallen 2.5% today after its first-half profit report came in slightly below market expectations. Statutory profit was 6% above the prior corresponding period, but the group's net interest margin (NIM) fell 7 basis points to 2% and the interim dividend was kept flat at 80 cents per share. To be fair, there was always the chance of some profit taking today considering the shares have rallied more than 35% over the past 12 months.

Motley Fool contributor Christopher Georges has no position in any stocks mentioned. 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.

More on ⏸️ Investing

Close up of baby looking puzzled
Retail Shares

What has happened to the Baby Bunting (ASX:BBN) share price this year?

It's been a volatile year so far for the Aussie nursery retailer. We take a closer look

Read more »

woman holds sign saying 'we need change' at climate change protest

3 ASX ETFs that invest in companies fighting climate change

If you want to shift some of your investments into more ethical companies, exchange-traded funds can offer a good option

Read more »

a jewellery store attendant stands at a cabinet displaying opulent necklaces and earrings featuring diamonds and precious stones.
⏸️ Investing

The Michael Hill (ASX: MHJ) share price poised for growth

Investors will be keeping an eye on the Michael Hill International Limited (ASX: MHJ) share price today. The keen interest…

Read more »

ASX shares buy unstoppable asx share price represented by man in superman cape pointing skyward
⏸️ Investing

The Atomos (ASX:AMS) share price is up 15% in a week

The Atomos (ASX: AMS) share price has surged 15% this week. Let's look at what's ahead as the company build…

Read more »

Two people in suits arm wrestle on a black and white chess board.
Retail Shares

How does the Temple & Webster (ASX:TPW) share price stack up against Nick Scali (ASX:NCK)?

How does the Temple & Webster (ASX: TPW) share price stack up against rival furniture retailer Nick Scali Limited (ASX:…

Read more »

A medical researcher works on a bichip, indicating share price movement in ASX tech companies
Healthcare Shares

The Aroa (ASX:ARX) share price has surged 60% since its IPO

The Aroa (ASX:ARX) share price has surged 60% since the Polynovo (ASX: PNV) competitor listed on the ASX in July.…

Read more »

asx investor daydreaming about US shares
⏸️ How to Invest

How to buy US shares from Australia right now

If you have been wondering how to buy US shares from Australia to gain exposure from the highly topical market,…

Read more »

⏸️ Investing

Why Fox (NASDAQ:FOX) might hurt News Corp (ASX:NWS) shareholders

News Corporation (ASX: NWS) might be facing some existential threats from its American cousins over the riots on 6 January

Read more »