MENU

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.

If your portfolio needs a lift after these declines then do not miss out on this major opportunity in 2018 and beyond...

Bill Gates Says This Could Be Worth “10 Microsofts”

If You Missed Investing In Microsoft in 1996 – Read This

I can’t believe so many investors haven’t heard about something Microsoft founder Bill Gates told a group of college students in 2004.

This could be your chance to get in on the ground floor!

Click here to discover more!

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.

The 5 mining stocks we’re recommending in 2019…

For decades, Australian mining companies have minted money for individual investors like you and me. But if you believe the pundits and talking heads on TV, those days are long gone. Finito! Behind us forever…

We say nothing could be further from the truth. To earn the really massive returns, you’ve got to fish where others aren’t fishing—and the mining sector could be primed for a resurgence. That’s why top Motley Fool analysts just revealed their exciting new research on 5 ASX miners they believe could help you profit in 2019 and beyond…

Including:

The best way we see to play the global zinc shortage… Our #1 favourite large-cap miner (hint: it’s not BHP)… one early-stage gold miner we think could hit the motherlode… Plus two more surprising companies you probably haven’t heard of yet!

For free access to our brand-new research, simply click here or the link below. But be warned, this research is available free for a limited time only, and we reserve the right to withdraw it at any time.

Click here for your FREE report!