In afternoon trade the S&P/ASX 200 index is on course to finish the week on a high. At the time of writing the benchmark index is up just over 0.5% to 7,079.1 points.
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 Accent Group Ltd (ASX: AX1) share price is down 5% to $1.72 despite there being no news out of the footwear retailer. However, a number of retail shares have come under pressure this week. This appears to be down to concerns over the negative impact of the bushfires and news that several retailers have closed down.
The Domino’s Pizza Enterprises Ltd (ASX: DMP) share price is down almost 3% to $55.30. This follows the release of an update on its legal proceedings in France. This relates to a claim by its competitor, Speed Rabbit Pizza, that Domino’s breached French laws governing payment time limitations and lending. Although the Court has held Speed Rabbit Pizza liable for disparaging Domino’s, it has partially set aside the Paris Court of Appeal decision. This is because it did not properly examine all the evidence submitted.
The Nufarm Limited (ASX: NUF) share price has crashed 10% lower to $5.48. This morning the agricultural chemicals company revealed that the majority of its businesses have been struggling with tough trading conditions. As a result, Nufarm expects its first half EBITDA to be in the range of $55 million and $65 million. This is down materially from its underlying EBITDA of $120.9 million a year earlier.
The Pantoro Ltd (ASX: PNR) share price has tumbled 18% lower to 10.7 cents. After the market closed on Thursday the gold miner released its quarterly update. That update revealed that Pantoro had a disappointing December quarter. Total production for the period at Halls Creek was 9,403 ounces of gold. This was achieved at a disappointingly high all-in sustaining cost of $1,940 an ounce.
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Motley Fool contributor James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia has recommended Accent Group and Domino's Pizza Enterprises Limited. 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.