In afternoon trade the benchmark S&P/ASX 200 index is on course to continue its solid run and finish the week on a positive note. At the time of writing the index is up 0.5% to 6,415.2 points.
Four shares that have failed to follow the market higher today are listed below. Here's why they are finishing the week in the red:
The Baby Bunting Group Ltd (ASX: BBN) share price is down over 2% to $2.20. This latest decline means the baby products retailer's shares have now fallen around 9% over the last four trading days. This appears to have been caused by news that Toys R Us is planning to return to Australia as soon as next week. Initially the retailer will launch online, but plans to open physical locations from 2020.
The Japara Healthcare Ltd (ASX: JHC) share price has fallen 4% to $1.20. Today's decline may be in relation to a disappointing trading update by rival Regis Healthcare Ltd (ASX: REG) yesterday. That update revealed that Regis' occupancy level had fallen in the second half. It also advised that its earnings would be down significantly in FY 2020.
The Resolute Mining Limited (ASX: RSG) share price has tumbled almost 7% to $1.02. Almost all of Australia's leading gold miners have come under pressure today after the gold price pulled back during Asian trade. According to CNBC, the spot gold price has fallen 0.4% to US$1,337.40 an ounce. Improving investor sentiment appears to have softened demand for safe haven assets.
The Syrah Resources Ltd (ASX: SYR) share price is down 4.5% to $1.05 after the graphite miner downgraded its second quarter production guidance. According to the release, management expects its second quarter production to be in the range of 45kt to 50kt. This compares to its previous guidance of 50kt to 55kt. It also advised that quarter-to-date, its weighted average price received is US$466 per tonne, down from an average of US$469 per tonne in the prior quarter.
