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

In afternoon trade the S&P/ASX 200 (Index: ^AXJO) (ASX: XJO) has fought back from a soft start and pushed higher. At the time of writing the benchmark index is up 0.4% to 6,288.6 points.

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

The BHP Billiton Limited (ASX: BHP) share price has given back a lot of yesterday’s gains and is down 2% to $32.95. Declines in commodity prices overnight have weighed heavily on a lot of materials shares on Friday. The copper price tumbled to a one-year low amid concerns that a trade war could stifle global economic growth.

The Blue Sky Alternative Investments Ltd (ASX: BLA) share price has plunged almost 11% lower to $1.74 despite there being no news out of the embattled asset manager. Blue Sky’s shares have been rising strongly this week on the back of news that Shaw and Partners placed a buy rating and $2.50 price target on them. I suspect this decline could be a case of profit taking and would urge investors to resist buying the dip.

The Domino’s Pizza Enterprises Ltd (ASX: DMP) share price has fallen over 3% to $48.77 after its US parent released a softer than expected second quarter result. Comparable sales at international franchised stores grew 4% during the quarter, compared to the market’s expectations of 5.3%. Some investors appear to have interpreted this as a sign that the locally listed Domino’s could have underperformed over the last three months.

The Saracen Mineral Holdings Limited (ASX: SAR) share price is down 3.5% to $1.99. Almost all gold miners have dropped lower today after the spot gold price fell for the fifth day in a row. At present the spot gold price is fetching US$1,218 an ounce. The precious metal touched on a 2018 low of US$1,212 an ounce in earlier trade. Rising interest rates and a strengthening greenback have weighed on the gold price.

Need a lift after these declines? Then these top four shares could be just what you need.

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Motley Fool contributor James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia has recommended Domino's Pizza Enterprises Limited. 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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