The S&P/ASX 200 (Index: ^AXJO) (ASX: XJO) has had a disappointing start to the week. In afternoon trade the benchmark index is down 1% to 5,664 points.
Four shares which have fallen more than most are listed below. Here’s why they have started the week in the red:
The Australian Agricultural Company Ltd (ASX: AAC) share price has fallen 3.5% to $1.70, despite there being no news out of the cattle and beef producer. Considering the dismal performance of rival Wellard Ltd (ASX: WLD) last week, investors may be concerned that Australian Agricultural Company could also be suffering from tough trading conditions.
The Altona Mining Ltd (ASX: AOH) share price has fallen 18% to 11 cents after the company advised that the proposed transaction of the Cloncurry Copper Project by Sichuan Railway Investment Group Company had been terminated. Delay by Chinese regulators left Altona no choice but to terminate the transaction. The company will now seek an alternative deal.
The Nextdc Ltd (ASX: NXT) share price has fallen almost 4% to $4.03. The market appears increasingly concerned by the drama over at Asia Pacific Data Centre Group (ASX: AJD). But with such strong long-term growth prospects, I believe recent weakness in its share price could be a buying opportunity.
The Woodside Petroleum Limited (ASX: WPL) share price has fallen almost 3% to $28.65 following a drop in oil prices at the end of last week. Oil prices fell after Reuters reported that data from tanker-tracking firm PetroLogistics showed that OPEC was producing 33 million barrels of oil per day this month. This is over 500,000 barrels per day higher than its target output.
Motley Fool contributor James Mickleboro owns shares of NextDC Ltd. 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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