The S&P/ASX 200 index is out of form on Monday and is trading notably lower. In afternoon trade the benchmark index is down 0.45% to 6,790.1 points.
Four shares that are falling more than most today are listed below. Here’s why they are sinking lower:
The Appen Ltd (ASX: APX) share price is down over 2% to $23.15 despite there being no news out of the language technology company. However, a number of tech shares are sinking lower with the market on Monday following a decline by the technology-focused Nasdaq index on Friday. At the time of writing the S&P/ASX 200 Info Tech index is down 0.6%.
The BWX Ltd (ASX: BWX) share price has dropped 3.5% to $4.43. This is despite there being no news out of the personal care products company. I suspect that this could be due to some end of year profit taking by investors. After all, even after today’s decline, the BWX share price is up a massive 170% since the start of the year. Bullish guidance for FY 2020 is largely behind this impressive gain.
The Sydney Airport Holdings Pty Ltd (ASX: SYD) share price is down 4% to $8.81. The catalyst for this decline has been the airport operator’s shares trading ex-dividend this morning for its final unfranked dividend of 19.5 cents per share. This dividend will now be paid to eligible shareholders in around six weeks on February 14. This brought its total dividends for 2019 to 39 cents per share.
The Transurban Group (ASX: TCL) share price has fallen almost 3% to $15.18. As with Sydney Airport, the catalyst for this decline has been the toll road giant’s shares trading ex-distribution this morning. Transurban is paying its shareholders a 31 cents per unit distribution on February 14. This distribution brought its full year distributions to 61 cents per unit.
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Motley Fool contributor James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia owns shares of and has recommended BWX Limited, Sydney Airport Holdings Limited, and Transurban Group. The Motley Fool Australia owns shares of Appen 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.