In afternoon trade, the S&P/ASX 200 Index (ASX: XJO) is on course to end the week with a stunning gain. At the time of writing, the benchmark index is up 2.7% to 7,154.2 points.
Four ASX shares that have failed to follow the market higher today are listed below. Here's why they are falling:
Computershare Limited (ASX: CPU)
The Computershare share price is down 3% to $26.21. This could be due to profit taking after a strong gain on Thursday and the latest inflation reading in the United States. With inflation coming in lower than expected, investors are betting that interest rates may not rise as much as feared. This would be a negative for Computershare given its positive leverage to rising rates.
Jervois Global Ltd (ASX: JRV)
The Jervois Global share price is down 19% to 40.7 cents. This follows the completion of a $231 million institutional placement and entitlement offer. The mineral exploration company raised the funds at a discount of 42 cents per share. The proceeds will be used to support the restart of the São Miguel Paulista refinery in Brazil, ramp up Idaho Cobalt Operations in the United States, and progress a bankable feasibility study for expansion of its cobalt refinery capacity in Finland.
Origin Energy Ltd (ASX: ORG)
The Origin share price is down 3.5% to $7.55. This may have been driven by profit taking after a huge gain on Thursday following the receipt of a takeover approach. In addition, concerns that the $18.4 billion deal may not get approved by regulators could be weighing on sentiment today. Origin is trading well below the offer price of $9.00 cash per share.
Whitehaven Coal Ltd (ASX: WHC)
The Whitehaven Coal share price is down 5% to $7.91. Investors have been hitting the sell button on Friday amid concerns the government could introduce temporary taxes on coal miners. When asked about the potential for a new temporary tax on gas and thermal coal, Prime Minister Anthony Albanese said: "Well, what we know is that we can't just sit back and watch while energy prices go through the roof for households and for businesses."
