In afternoon trade, the S&P/ASX 200 Index (ASX: XJO) is starting the week positively. At the time of writing, the benchmark index is up 0.4% to 8,551.2 points.
Four ASX shares that have failed to follow the market higher today are listed below. Here's why they are falling:
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BHP Group Ltd (ASX: BHP)
The BHP Group share price is down 2.5% to $36.63. This appears to have been driven by news that the Department of Industry, Science and Resources is forecasting Australian export earnings to decline by about 8.6% over the next two years. A key driver of this decline will be from iron ore exports. The Department of Industry, Science and Resources expects iron ore exports to fall from $116 billion in FY 2025 to $105 billion next year and then $97 billion the year after.
Lynas Rare Earths Ltd (ASX: LYC)
The Lynas Rare Earths share price is down 5% to $8.44. This morning, Ord Minnett downgraded the rare earths producer's shares to a hold rating with an $8.70 price target. The broker made the move largely on valuation grounds following a strong gain in 2025. For example, even after today's pullback, the company's shares have risen 30% since the start of the year.
Newmont Corporation (ASX: NEM)
The Newmont Corporation share price is down almost 2% to $87.00. This follows a pullback in the gold price on Friday night which is impacting gold miners on Monday. Traders were selling gold amid easing US-China trade war concerns. The S&P/ASX All Ordinaries Gold index is down 0.25% at the time of writing.
Virgin Australia Holdings Ltd (ASX: VGN)
The Virgin Australia share price is down 3% to $3.08. This may have been driven by profit taking from some investors after the airline operator's shares raced higher following its successful IPO last week. Last week, Virgin Australia's IPO raised $685 million through the sale of 236.2 million shares at $2.90 per new share. The airline operator's CEO, Dave Emerson, said: "Virgin Australia is a simple, focused business with a transformed operational and commercial model. We have a clear strategy and an incredible team of people who deliver wonderful flying experiences to our customers every day. We are delivering on our ambition to be Australia's most loved airline and continuing to expand our award-winning Velocity frequent flyer program."
