The S&P/ASX 200 (Index: ^AXJO) (ASX: XJO) has followed the lead of international markets and is up 0.7% to 5,759 points in afternoon trade.
Four shares which haven't been able to follow the market higher today are listed below. Here's why they sank lower:
The Billabong International Limited (ASX: BBG) share price has tumbled 8% to 56 cents despite there being no news out of the embattled retailer. Last month the retailer posted a net loss before tax of $8.4 million, excluding significant items and discontinued businesses. While things are expected to improve slightly in FY 2018, I would stay clear of the retailer.
The Saracen Mineral Holdings Limited (ASX: SAR) share price has fallen 4% to $1.35. Most of the gold miners are lower today after the gold price continued to give back some of last week's gains. At present the spot gold price is down to US$1,325 an ounce.
The Senex Energy Ltd (ASX: SXY) share price has fallen 4% to 30.7 cents. Today's decline came despite a positive research note out of Ord Minnett this morning which labelled the energy producer as a buy. Its analysts have given Senex a 39 cents price target partly due to it recently being awarded the 58 square kilometre Surat Basin acreage for domestic gas supply by the Queensland government.
The Vocus Group Ltd (ASX: VOC) share price has continued to sink lower, this time by 2.5% to $2.43. The telco company's shares have now lost around 23% of their value since two private equity firms withdrew their takeover bids. Whilst its shares do look dirt cheap, I'm holding off an investment until things improve.
