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.

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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.

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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.

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