The S&P/ASX 200 Index (ASX: XJO) is having a subdued start to the week. In afternoon trade, the benchmark index is down 0.3% to 8,635.9 points.
Four ASX shares that are falling more than most today are listed below. Here's why they are dropping:
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Breville Group Ltd (ASX: BRG)
The Breville share price is down over 3% to $32.14. This follows the release of results from rival home appliance manufacturer De'Longhi at the end of last week. It seems that some investors believe this update could hint at Breville underperforming expectations in FY 2025. The team at Ord Minnett remains reasonably positive on the company. This morning, in response to the De'Longhi update, the broker has retained its accumulate rating and $35.00 price target on its shares. Though, it acknowledges that there are risks in FY 2026 from US trade tariffs.
Canyon Resources Ltd (ASX: CAY)
The Canyon Resources share price is down almost 4% to 25 cents. This follows the release of an update from the bauxite developer this morning. According to the release, Canyon Resources has completed the first drawdown from its US$140 million credit facility with AFG Bank Cameroon. It will be used towards the purchase of rolling stock and progressing key infrastructure workstreams at the Minim Martap project. Management also revealed that it continues to expect to release its updated definitive feasibility study (DFS) on schedule in August.
Gorilla Gold Mines Ltd (ASX: GG8)
The Gorilla Gold Mines share price is down over 1% to 41.5 cents. This morning, the gold developer revealed that it has completed its updated mineral resource estimate for the Mulwarrie Gold Project. Its new estimate is 3.0 Mt at 3.6g/t Au for 350,000 ounces of contained gold. Management notes that this represents a 340% increase on the previous resource estimate and a 29% increase on the previous resource grade estimate. This appears to have been lower than some investors were hoping.
Star Entertainment Group Ltd (ASX: SGR)
The Star Entertainment share price is down a further 6.5% to 8.6 cents. This casino and resorts operator's shares have come under pressure this month after it was unable to sell its stake in Brisbane's Queen's Wharf development. The company stated: "As of this morning, the parties have been unable to reach agreement on a number of outstanding commercial issues which in turn prevent the finalisation of long form documents. The Star proposed to the Joint Venture Partners an extension of the HoA termination date to 6 August 2025 to allow further time to conclude negotiations. However, the proposed extension by The Star was not accepted by the Joint Venture Partners." There are concerns that this could leave the company on the brink of collapse.
