The S&P/ASX 200 (Index: ^AXJO) (ASX: XJO) has fallen heavily on Tuesday amid the domestic political chaos. The benchmark index is down almost 1% to 6,284.6 points at the time of writing.
Four shares that are falling more than most today are listed below. Here's why they are sinking lower:
The Amcor Limited (ASX: AMC) share price has fallen 4% to $13.69 after the packaging company released a weak full-year result. Amcor achieved revenue growth of 2.4% to US$9,101 million and profit after tax growth of 3.3% to US$701.2 million in FY 2018. This result was, however, positively impacted by currency movements. In constant currency terms revenue would have been down 0.6% and profit after tax would be 0.2% lower year-on-year.
The BHP Billiton Limited (ASX: BHP) share price has fallen almost 2% to $32.58 after the mining giant released its full-year results. According to the release, total revenue jumped 20% to US$43.6 billion and underlying net profit surged by a third to US$8.9 billion thanks to higher commodity prices and increased production of its key commodities. BHP declared a record final dividend of 63 U.S. cents compared to 43 U.S. cents per share last year, taking its fully franked total dividend to US$1.18 for FY 2018.
The Insurance Australia Group Ltd (ASX: IAG) share price has dropped over 3% to $7.59. The majority of today's decline can be attributed to the insurance company's shares going ex-dividend this morning for its final dividend. Eligible shareholders can now look forward to receiving this 20 cents per share fully franked dividend in their nominated accounts on September 27.
The REA Group Limited (ASX: REA) share price is down 3% to $90.66 after the real estate listings company's CEO offloaded all but 12 of her shares. Late yesterday a change of director's interest notice revealed that CEO Tracey Fellows had sold 10,206 shares for a total of $911,490.06. This means an average price of $89.31 per share. No explanation for the sale was given with the release, but the AFR has reported that the sale was made for personal reasons.
