It has been yet another disappointing day for the S&P/ASX 200 (Index: ^AXJO) (ASX: XJO). In afternoon trade the benchmark index is down 0.8% to 5,830 points.
Four shares in particular have acted as a drag on the market today. Here's why they are finishing the week deep in the red:
The Mineral Resources Limited (ASX: MIN) share price has tumbled 4% to $9.33 after the iron ore price collapsed amid concerns of oversupply. Unfortunately iron ore futures are pointing to even more declines tonight. As a result I think the industry is best avoided at this point in time.
The Murray River Organics Ltd (ASX: MRG) share price has fallen an incredible 41% to 60.5 cents after the organic food producer downgraded its full-year guidance just over two months after last reiterating it. A delay with operational efficiencies has led to higher-than-expected full-year operating expenses.
The Santos Ltd (ASX: STO) share price is down 3.5% to $3.51. Today's decline is likely to be attributable to a sharp drop in oil prices overnight. According to Reuters, oil prices fell to five-month lows over concerns that the OPEC production cut hasn't had an impact on global oversupply. In light of this I would avoid Santos.
The TPG Telecom Ltd (ASX: TPM) share price has dropped 4% to $5.79 after the ACCC's decision not to declare mobile roaming. The ACCC review was related to calls for open access to the extensive Telstra Corporation Ltd (ASX: TLS) mobile network. This would have been a big bonus for companies like TPG Telecom.
