The S&P/ASX 200 Index (ASX: XJO) looks to have run out of steam on Thursday. In afternoon trade, the benchmark index is down 0.35% to 7,153.6 points.
Four ASX shares that are falling more than most today are listed below. Here's why they are dropping:
Boss Energy Ltd (ASX: BOE)
The Boss Energy share price is down over 6% to $3.89. This morning, this uranium developer announced the completion of a $205 million placement at $3.95 per new share. The proceeds will be used partly to fund the acquisition of a 30% stake in enCore Energy Corp's Alta Mesa ISR Project in South Texas.
Core Lithium Ltd (ASX: CXO)
The Core Lithium share price is down almost 4% to 26 cents. This may have been driven by profit-taking after a very strong gain on Wednesday on the back of no news. This lithium miner's shares are down 80% over the last 12 months.
Mesoblast Ltd (ASX: MSB)
The Mesoblast share price is down 3% to 31 cents. Investors have been selling this biotech company's shares this week after it announced another capital raising. Mesoblast revealed that it received firm commitments for an institutional placement and entitlement offer to raise $55 million at a 26% discount of $0.30 per new share. It will now seek to raise a further $42 million from retail shareholders at the same price.
QBE Insurance Group Ltd (ASX: QBE)
The QBE share price is down 3% to $14.61. This is despite there being no news out of the insurance giant. However, it is worth noting that most insurance shares are down today. This may be due to the belief that interest rates won't stay high for as long as expected. Insurers benefit from higher rates.
