MENU

Why these 4 ASX shares started the week in the red

The S&P/ASX 200 (Index: ^AXJO) (ASX: XJO) has returned from its break with a move higher today. At the time of writing the index is up 0.2% to 6,081 points.

Four shares that have failed to follow the market higher today are listed below. Here’s why they are in the red:

The European Cobalt Ltd (ASX: EUC) share price is down 26% to 12 cents following the release of the drilling results from the first four holes at its cobalt project in Slovakia. Unfortunately the results were weaker than expected and shareholders have headed to the exits.

The Northern Minerals Ltd (ASX: NTU) share price has fallen 8.5% to 8.6 cents after the rare earths company advised that it has raised approximately $9.7 million through equity and debt for further development of the Browns Range Pilot Plant. Approximately $4.7 million of this was raised at 7.8 cents per share, a significant discount to the last close price.

The Pushpay Holdings Ltd (ASX: PPH) share price has tumbled 4% to $3.82 despite there being no news out of the fintech company. Prior to today Pushpay’s shares had more than tripled in value this year, which I believe means there’s a strong chance that today’s decline is related to profit taking.

The Qantas Airways Limited (ASX: QAN) share price has fallen 2% to $5.09. Today’s decline could be related to improvements in the oil price over the Christmas break. US crude oil hit US$60 a barrel on Tuesday following reports of a pipeline explosion in Libya. This is the first time it has reached this level since 2015.

Need a lift after today's declines? Then these hot stocks could be what you need.

The Disruptors: 3 Revolutionary Aussie Companies to Back for 2018

We’re living in one of the most exciting times in investing history. Innovation and a booming culture of entrepreneurship are constantly creating new companies with the potential to make forward-thinking investors very rich. Now more than ever, one small, smart investment could make a huge difference to your wealth.

That’s why at The Motley Fool we’ve been scrutinizing the ASX to uncover the kinds of companies that we believe could turn into the next Cochlear or REA Group.

We’ve found three exciting companies that we believe re poised to perform in the new year. Click here to uncover these ideas!

Motley Fool contributor James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia owns shares of PUSHPAY FPO NZX. 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.

Two New Stock Picks Every Month!

Not to alarm you, but you’re about to miss a very important event! Chief Investment Advisor Scott Phillips and his team at Motley Fool Share Advisor are about to reveal their latest official stock recommendation. The premium “buy alert” will be unveiled to members and you can be among the first to act on the tip.

Don’t let this opportunity pass you by – this is your chance to get in early!

Simply enter your email now to find out how you can get instant access.

By clicking this button, you agree to our Terms of Service and Privacy Policy. We will use your email address only to keep you informed about updates to our website and about other products and services we think might interest you. You can unsubscribe from Take Stock at anytime. Please refer to our Financial Services Guide (FSG) for more information.