The S&P/ASX 200 Index (ASX: XJO) is starting the week positively. In afternoon trade, the benchmark index is up 0.3% to 8,830.8 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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AMP Ltd (ASX: AMP)
The AMP share price is down almost 7% to $1.75. This is despite there being no news out of the financial services company on Monday. Though, at the end of last week, Macquarie put a neutral rating and $1.70 price target on its shares after it fell short of its expectations during the first half.
Iress Ltd (ASX: IRE)
The Iress share price is down 7% to $8.74. This follows the release of the financial technology company's half year results. Iress reported a 3.1% decline in total revenue to $299.5 million and a 3.9% fall in adjusted EBITDA to $64.4 million. However, things were better on a continuing basis, with adjusted EBITDA lifting 8.7% to $60.2 million. Iress CEO, Marcus Price, said: "Iress' continuing business has delivered a strong performance in the first half, underpinned by solid revenue growth in our Global Trading & Market Data business and continuing positive momentum in our UK wealth business. These results reflect the strength of our core businesses of trading and wealth."
JB Hi-Fi Ltd (ASX: JBH)
The JB Hi-Fi share price is down 8% to $108.27. Investors have been selling this retail giant's shares after its strong FY 2025 result was overshadowed by news that its CEO, Terry Smart, is stepping down. Commenting on the result, Grady Wulff, Senior Market Analyst at Bell Direct, told The Motley Fool Australia: "Overall, JBH results were again very strong, demonstrating its leadership position among the Australian retail landscape, while also benefiting from the tailwinds of the AI revolution. Unfortunately, today, the results are being overshadowed by the surprise exit of the company's current CEO without a clear reason for his departure."
Santana Minerals Ltd (ASX: SMI)
The Santana Minerals share price is down 3% to 61.2 cents. This follows the completion of the gold developer's capital raising this morning. Santana Minerals is raising $60 million at a discount of $0.58 per new share. The proceeds will be used partly to accelerate the development of the Bendigo-Ophir Gold Project in preparation for a subsequent final investment decision. The company's CEO, Damian Spring, said: "The support and interest in the Bendigo Ophir Gold Project endorses its significance and it is pleasing that a New Zealand resource project can once again, attract significant investment capital for projects than can assist in the rebuild of the Country's economic base."
