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

The S&P/ASX 200 (Index: ^AXJO) (ASX: XJO) is having a positive end to the week and is up 0.4% to 5,965 points in afternoon trade.

Unfortunately, not all shares have been able to follow the market higher today. Here’s why these four shares are ending the week in the red:

The BlueScope Steel Limited (ASX: BSL) share price has fallen 3% to $15.29. This decline could be in relation to weakening iron ore and steel prices as a result of concerns over what impact Trump’s tariffs will have on prices. This morning President Trump hinted that Australia may be exempt from these tariffs.

The Myer Holdings Ltd (ASX: MYR) share price has plunged 6% to 42.7 cents after the department store operator’s shares were one of four dumped from the S&P/ASX 200 at the March rebalance. Unfortuntely for Myer’s shareholders things just keep going from bad to worse. I would suggest that investors stay clear of the retailer’s shares no matter how cheap they may appear.

The Northern Star Resources Ltd (ASX: NST) share price is down almost 2.5% to $6.56 despite there being no news out of the gold miner. Today’s decline could be attributable to a spot of weakness in the gold price and a broker note out of Credit Suisse. That note revealed that its analysts have retained their underperform rating and lowly $4.55 price target despite it announcing plans to buy the South Kalgoorlie operations from Westgold Resources Ltd (ASX: WGX).

The Syrah Resources Ltd (ASX: SYR) share price has fallen 3% to $3.28 despite there being no news out of the graphite miner. Last week Syrah warned that production would be lower at its Balama project over the next eight weeks following an issue with the dryer of its fines graphite circuit. Production will be restricted to 65% of its usual volume.

If your portfolio needs a lift after these declines then I would consider snapping up these top growth shares. I'm tipping them to beat the market in 2018.

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Motley Fool contributor James Mickleboro has no position in any of the stocks mentioned. 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 Scott Phillips.

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