Why Flight Centre, Mesoblast, NAB, & SkyCity shares are sinking

It hasn’t been a good start to the week for these ASX shares…

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The S&P/ASX 200 Index (ASX: XJO) is on course to start the week on a disappointing note. In afternoon trade, the benchmark index is down 0.3% to 7,273 points.

Four ASX shares that are falling more than most today are listed below. Here’s why they are sinking:

Flight Centre Travel Group Ltd (ASX: FLT)

The Flight Centre share price is down almost 4% to $15.39. A number of travel shares are trading lower on Monday. This may have been driven by concerns over the Melbourne lockdown and its impact on the domestic travel market.

Mesoblast limited (ASX: MSB)

The Mesoblast share price has continued its slide and is down a further 4% to $1.77. Investors have been selling the allogeneic cellular medicines company’s shares since the release of its third quarter update last week. Mesoblast reported a loss after tax of US$26.5 million for the quarter. This brings its financial year to date loss to US$76.75 million.

National Australia Bank Ltd (ASX: NAB)

The NAB share price has fallen 3.5% to $26.57. This morning the banking giant revealed that it has been hit with an AUSTRAC investigation in relation Anti-Money Laundering and Counter-Terrorism Financing non-compliance concerns. According to the release, AUSTRAC believes there is “potential serious and ongoing non-compliance” regarding the NAB business group’s customer identification procedures and ongoing customer due diligence.

SKYCITY Entertainment Group Limited (ASX: SKC)

The SKYCITY share price has tumbled 9.5% to $3.08. This morning the casino and resorts operator also revealed that AUSTRAC is investigating its Adelaide operation in relation to Anti-Money Laundering and Counter-Terrorism Financing non-compliance concerns. The release explains that the potential serious non-compliance includes concerns relating to ongoing customer due diligence.

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James Mickleboro does not own any shares mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has recommended Flight Centre Travel Group Limited. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

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