In late morning trade the S&P/ASX 200 Index (ASX: XJO) is edging lower following heavy declines in the banking sector. At the time of writing the index is down 0.1% to 5,237.1 points.
Four shares that are falling more than most today are listed below. Here's why they are dropping lower:
The Beach Energy Ltd (ASX: BPT) share price is down 2.5% to $1.33. Investors have been selling Beach and other energy shares after oil prices tumbled lower this morning. According to CNBC, WTI crude oil is down 6% to US$15.94 a barrel and Brent crude oil is 1.5% lower to US$21.13 a barrel. Concerns over demand continue to weigh on prices.
The Newcrest Mining Limited (ASX: NCM) share price is down 1.5% to $28.15. A number of gold miners have edged lower today after a subdued finish to the week for the gold price. In addition to this, investors may be taking a bit of profit off the table after stellar gains last week. At the time of writing the S&P/ASX All Ordinaries Gold index is down 0.5%.
The Volpara Health Technologies Ltd (ASX: VHT) share price has fallen 3.5% to $1.23. The medical technology company's shares have been on a downward trend over the last couple of weeks. Not even a quarterly update last week which revealed a 354% increase in cash receipts during the fourth quarter has been able to stop the decline.
The Westpac Banking Corp (ASX: WBC) share price is down 4.5% to $14.62. This follows the release of the half year result of rival National Australia Bank Ltd (ASX: NAB) this morning. NAB brought forward its release day by around 10 days and revealed the more than halving of its cash earnings. It also announced a $3.5 billion capital raising. Investors may believe Westpac and Australia and New Zealand Banking Group (ASX: ANZ) will do the same with the release of their upcoming results.
