The S&P/ASX 200 index looks set to finish the week on a very positive note. The benchmark index is up 0.6% to 6,747.4 points in afternoon trade.
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 Adairs Ltd (ASX: ADH) share price has fallen 2.5% to $2.29 despite there being no news out of the homewares retailer. However, its shares have been on fire this month. This could mean that profit taking is weighing on them today. Prior to today’s decline, Adairs’ shares were up 29% since the start of the month.
The Catapult Group International Ltd (ASX: CAT) share price is down 9% to $1.65. As with Adairs, I suspect this share price weakness could be down to profit taking. Prior to today, the sports analytics and wearables company’s shares were up 140% since the start of the year. A much improved performance, key contract wins, and the appointment of a new CEO were behind this gain.
The Silver Lake Resources Limited (ASX: SLR) share price is down almost 8% to $1.15. Investors have been selling the gold miners today. This is possibly due to developments in the UK. Investors have responded positively to news that Boris Johnson looks set to win the UK election by a significant margin. This should ensure that Brexit gets done in the near future. The S&P/ASX All Ords Gold index is down 3.1% today.
The Sydney Airport Holdings Pty Ltd (ASX: SYD) share price is down 2.5% to $8.73. This morning the airport operator announced its next dividend. Sydney Airport advised that it will be paying investors a 19.5 cents per share dividend in February. To qualify for this dividend, investors will need to be on the share registry before December 30. This dividend may have been lower than some investors had hoped.
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James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia's parent company Motley Fool Holdings Inc. owns shares of Catapult Group International Ltd. The Motley Fool Australia owns shares of and has recommended Sydney Airport Holdings Limited. The Motley Fool Australia has recommended Catapult Group International 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.