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Money Why these 4 ASX shares started the week in the red

12:30  13 february  2018
12:30  13 february  2018 Source:   fool.com

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  Markets may slow confidence in economy Economists expect the extreme volatility seen in financial markets in the past week will have dampened the mood of consumers. Australians started 2018 in a positive mood, hitting confidence levels not seen in five years and pointing to a potential win for retailers.However, the extreme volatility seen in global financial markets in the past week, which has wiped tens of billions of dollars off Australian shares, is likely to have curtailed such exuberance.The Westpac-Melbourne Institute consumer sentiment report for February, which is due on Wednesday, will have been surveyed over the weekend.

Four shares that have acted a drag on the market today are listed below. Here’s why they have started the week deep in the red : The AVZ Minerals Ltd ( ASX : AVZ) share price has fallen almost 11% to 9.8 cents despite there being no news out of the lithium-focused mineral exploration company.

Four shares that have fallen more than most today are listed below. Here’s why they are starting the week in the red : The A2 Milk Company Ltd ( ASX Investors appear concerned that these operations could be closed down. The Sims Metal Management Ltd ( ASX : SGM) share price has tumbled 10.5

Jennifer Hawkins attends the Myer 'Spring Social' Night Event at Bronte Surf Life Club.© Don Arnold/WireImage Jennifer Hawkins attends the Myer 'Spring Social' Night Event at Bronte Surf Life Club. In afternoon trade the S&P/ASX 200 (Index: ^AXJO) (ASX: XJO) is on course to start the week with a move lower. At the time of writing the benchmark index is down 0.3% to 5,820 points.

Four shares which have fallen more than most today are listed below. Here’s why they have started the week in the red:

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The Newcrest Mining Limited ( ASX :NCM) share price is one of four starting the week in the red … The S&P/ ASX 200 (Index: ^AXJO) ( ASX : XJO) has followed the lead of international markets and pushed higher on Monday. At the time of writing the benchmark index is up 0.7% to 6,006 points.

The Nearmap Ltd ( ASX :NEA) share price is one of four that started the week in the red . Four shares which weren’t able to follow the market higher and started the week in the red are listed below. Here’s why they sank: The 8I Holdings Ltd ( ASX : 8IH) share price fell 7% to 39 cents.

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+0.27
+1.64%

The Bendigo and Adelaide Bank Ltd(ASX: BEN) share price is down 2.5% to $10.94 following the release of its half-year results. Investors appear to be underwhelmed by the regional bank’s cash earnings per share of 46.8 cents. This was a 3.3% increase on the prior corresponding period. As well as this, the commencement of the Royal Commission today has weighed on the banking sector’s performance.

The JB Hi-Fi Limited (ASX: JBH) share price has tumbled 7.5% to $25.97 despite reporting a 25% increase in half-year earnings before interest and tax. Although its results came in slightly ahead of the market’s expectations, its outlook was weaker than expected after comparable store sales reversed during January. Harvey Norman Holdings Limited(ASX: HVN) shares are down 4% on the news.

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Four shares that have failed to follow the market higher today are listed below. Here’s why they are ending the week in the red : The Appen Ltd ( ASX : APX) share price has fallen 3% to .67 despite there being no news out of the tech star. I suspect that today’s decline could be the result of profit

Here’s why they have started the week deep in the red The Retail Food Group Limited ( ASX : RFG) share price has continued its decline and is down 10.5% to 51 cents. This morning UBS released a broker note declaring the embattled food and beverage company as a sell with a price target of 50

The Myer Holdings Ltd(ASX: MYR) share price has plunged 6.5% to 54.7 cents. Today’s decline could be related to a broker note out of Deutsche Bank which revealed that its analysts have downgraded the retailer’s shares to a sell rating with a 45 cents price target. The broker is concerned that its sales decline may not be easily fixed and that its balance sheet is looking especially pressured right now. I would heed Deutsche’s advice and stay clear of Myer’s shares.

The Regis Resources Limited(ASX: RRL) share price is down 4% to $3.86 after the gold price tumbled lower. Almost all of Australia’s gold miners are in the red today after the gold price extended its February decline to approximately 2%. It has started to recover over the last few hours, but I suspect that the prospect of rising interest rates will mean this rebound is short-lived.

AUSTRALIAN STOCKS SNOOZE: Here's what you need to know .
Australian stocks closed marginally lower. Today’s scoreboard. ASX200. 5,940.90 -0.70 -0.01% All Ordinaries. 6,045.60 +1.60 +0.03% AUD/USD. 0.7926 +0.0013 +0.16%

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