MENU

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

In afternoon trade the S&P/ASX 200 (Index: ^AXJO) (ASX: XJO) has bounced back from a weak start and is pushing slightly higher. At the time of writing the benchmark index is up slightly to 6,146.3 points.

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

The Auswide Bank Ltd (ASX: ABA) share price is down almost 3% to $5.69. The whole of the bank’s share price decline today can be attributed to its shares going ex-dividend for its 18 cents per share final dividend this morning. Eligible shareholders can now look forward to receiving this generous dividend in their nominated account on September 21.

The Amaysim Australia Ltd (ASX: AYS) share price has tumbled 4.5% lower to $1.18 despite there being no news out of the telco company. I suspect that today’s decline could be a case of profit taking after its shares rallied strongly following the TPG-Vodafone merger announcement. Despite today’s decline, Amaysim’s shares have risen 18% since this time last month.

The Monash IVF Group Ltd (ASX: MVF) share price has dropped almost 4% to $1.12. Today’s decline may be related to news that Primary Health Care Limited (ASX: PRY) has agreed to acquire Montserrat Day Hospitals for a total consideration of up to $138.5 million. Management believes the acquisition will help grow its specialist segments such as its IVF business. This could lead to a further increase in competition for Monash IVF.

The Ramelius Resources Limited (ASX: RMS) share price has fallen almost 5% to 44.7 cents after announcing a takeover offer for gold exploration company Explaurum Ltd (ASX: EXU). Ramelius has made an all scrip offer of 1 Ramelius share for every 4 Explaurum shares. This implies a price of 12.3 cents per share based on a 30-day VWAP of the Ramelius share price. Judging by the share price decline, it seems some shareholders don’t believe that this is a good move by management.

Breaking news: ASX companies set to raise dividends!

It's been a nail-biter of a reporting season here in the first half of 2018.

But the real action, in my opinion, is what companies are doing with dividends.

What does this mean for you? Well there is one stock I've found that could very well turn out to be THE best buy of 2018. And while there's no such thing as a 'sure thing' when it comes to investing - this ripper might come as close as I've ever seen.

Click here it's FREE!

Motley Fool contributor James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia has recommended Monash IVF Group Ltd. 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.

Two New Stock Picks Every Month!

Not to alarm you, but you’re about to miss a very important event! Chief Investment Advisor Scott Phillips and his team at Motley Fool Share Advisor are about to reveal their latest official stock recommendation. The premium “buy alert” will be unveiled to members and you can be among the first to act on the tip.

Don’t let this opportunity pass you by – this is your chance to get in early!

Simply enter your email now to find out how you can get instant access.

By clicking this button, you agree to our Terms of Service and Privacy Policy. We will use your email address only to keep you informed about updates to our website and about other products and services we think might interest you. You can unsubscribe from Take Stock at anytime. Please refer to our Financial Services Guide (FSG) for more information.