In afternoon trade, the S&P/ASX 200 Index (ASX: XJO) is on course to record a small gain. The benchmark index is currently up 0.1% to 6,986.2 points.
Four ASX shares that have failed to follow the market's lead today are listed below. Here's why they are falling:
BHP Group Ltd (ASX: BHP)
The BHP share price is down 2.5% to $44.41. This follows a tough session for mining shares after a pullback in commodity prices overnight. Weak global economic data appears to have caused concerns over the outlook for demand and put pressure on prices.
Jupiter Mines Ltd (ASX: JMS)
The Jupiter Mines share price 2.5% to 18.5 cents. This follows the release of an update on its EV Battery Market entry strategy. While progress is being made, it is still some way off. It said: "While all dates will be determined by the business case, Jupiter may target any potential HPMSM [High Purity Manganese Sulphate Monohydrate] production plant to be in operation by around 2027/2028."
Karoon Energy Ltd (ASX: KAR)
The Karoon Energy share price is down 3% to $2.33. This seems to have been driven by a pullback in oil prices overnight caused by the aforementioned weak global economic data. In addition, a sizeable build in U.S. crude supplies weighed on sentiment. Together, this led to oil prices dropping to their lowest levels since July.
Newmont Corporation (ASX: NEM)
The Newmont share price is down 4% to $56.26. Investors have been selling Newmont and other ASX gold shares today after the price of the precious metal fell. This was driven by lessening demand for safe-haven assets. The S&P/ASX All Ordinaries Gold Index (ASX: XGD) is down 2.4% this afternoon.