Why these 4 ASX shares are ending the week in the red

Unfortunately the S&P/ASX 200 (Index: ^AXJO) (ASX: XJO) looks likely to finish the year with a day in the red. In afternoon trade the index is down 0.3% to 6,069 points.

Four shares that have acted as a drag on the market today are listed below. Here’s why they are ending the week in the red:

The Australian Mines Limited (ASX: AUZ) share price has fallen 4% to 12.5 cents. This morning the mining company advised that non-executive director Neil Warburton has announced his retirement from the board effective 31 December 2017.

The Bega Cheese Ltd (ASX: BGA) share price has dropped over 2.5% to $7.26 despite there being no news out of the food company. But with its shares up sharply this year thanks partly to its acquisition of the Vegemite brand, this could be a spot of profit taking from investors.

The Nextdc Ltd (ASX: NXT) share price is down almost 2% to $6.00 after rejecting the chance to buy the Asia Pacific Data Centre Group (ASX: AJD) portfolio for $300 million. The data centre operator criticised the valuation made by the board appointed by 360 Capital Group Ltd (ASX: TGP). NEXTDC had the properties independently valued at $212.8 million just a few months ago.

The Saracen Mineral Holdings Limited (ASX: SAR) share price is down 3.5% to $1.69. Although the gold miners have sunk lower today, Saracen has fallen more than most. This may be due to profit taking as its shares have rallied an impressive 70% year-to-date.

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Motley Fool contributor James Mickleboro owns shares of NEXTDC Limited. 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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