Why CSL, Fletcher Building, Skycity, and Wildcat shares are falling today

These ASX shares are having a tough start to the week. But why?

| More on:
A woman with a sad face looks to be receiving bad news on her phone as she holds it in her hands and looks down at it.

Image source: Getty Images

You’re reading a free article with opinions that may differ from The Motley Fool’s Premium Investing Services. Become a Motley Fool member today to get instant access to our top analyst recommendations, in-depth research, investing resources, and more. Learn More

The S&P/ASX 200 Index (ASX: XJO) is on course to start the week with a small decline. In afternoon trade, the benchmark index is down 0.2% to 7,630.5 points.

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

CSL Ltd (ASX: CSL)

The CSL share price is down 5% to $290.02. Investors have been hitting the sell button after the biotechnology company released disappointing results from a major trial. CSL was running the Phase 3 AEGIS-II trial evaluating the efficacy and safety of CSL112 compared to placebo in reducing the risk of major adverse cardiovascular events (MACE) in patients following an acute myocardial infarction (AMI). Unfortunately, the study did not meet its primary efficacy endpoint of MACE reduction at 90 days.

Fletcher Building Ltd (ASX: FBU)

The Fletcher Building share price was down 6% to $3.70 before being paused from trade. There has been speculation that the building products company could be planning an equity raise. Fletcher Building will reveal all once its shares return to trade.

Skycity Entertainment Group Ltd (ASX: SKC)

The Skycity share price is down 2.5% to $1.92. This morning, it was revealed that the Department of Internal Affairs intends to commence civil proceedings against the company for non-compliance with the Anti-Money Laundering and Countering Financing of Terrorism Act.

Wildcat Resources Ltd (ASX: WC8)

The Wildcat share price is down 12% to 47. 5 cents. This is despite there being no news out of the lithium explorer on Monday. Though, it worth noting that a number of ASX lithium shares are falling today. And with Wildcat's shares rocketing higher last week, they seems to be falling more than most during today's session.

Motley Fool contributor James Mickleboro has positions in CSL. The Motley Fool Australia's parent company Motley Fool Holdings Inc. has positions in and has recommended CSL. The Motley Fool Australia has recommended CSL. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

More on Share Market News

A young man talks tech on his phone while looking at a laptop. A financial graph is superimposed across the image.
Share Gainers

Here are the top 10 ASX 200 shares today

ASX investors had a rough start to the trading week this Monday.

Read more »

Australian dollar notes in the pocket of a man's jeans, symbolising dividends.
Broker Notes

Where to invest $10,000 into ASX 200 shares this month

Analysts are bullish on these names. Let's find out why they rate them as buys.

Read more »

A steel worker peers out from under his protective headwear which is tipped back on his head as he stares solemnly straight ahead with steel production equipment in the background.
Share Gainers

Why is everyone talking about BlueScope Steel shares on Monday?

It seems Trump's tariffs have winners as well as losers...

Read more »

three businessmen high five each other outside an office building with graphic images of graphs and metrics superimposed on the shot.
Share Market News

3 ASX financial shares being bought up by insiders

Insiders have been loading the boat with these stocks...

Read more »

Man with rocket wings which have flames coming out of them.
52-Week Highs

5 ASX 200 stocks leaping to 52+-week highs in Monday's sinking market

Investors just sent these ASX 200 stocks to new one-year-plus highs. Let’s find out why.

Read more »

A young woman lifts her red glasses with one hand as she takes a closer look at news about interest rates rising and one expert's surprising recommendation as to which ASX shares to buy
Broker Notes

Leading brokers name 3 ASX shares to buy today

Here's why brokers believe that now could be the time to snap up these shares.

Read more »

A man sits in despair at his computer with his hands either side of his head, staring into the screen with a pained and anguished look on his face, in a home office setting.
Share Fallers

Why CAR Group, Domino's, JB Hi-Fi, and WiseTech shares are dropping today

These shares are having a tough start to the week. But why?

Read more »

Two lab workers fist pump each other.
Healthcare Shares

Guess which ASX 300 healthcare stock just rocketed 20% on BIG earnings growth

Investors are piling into the ASX 300 healthcare stock on Monday. But why?

Read more »