Investors have been selling off this graphite producer’s shares since its quarterly update last week. The Syrah Resources share price has continued its slump and is down a further 10% to $1.04.
The broker made the move in response to Mirvac’s earnings guidance downgrade from last week. According to the note, the broker has downgraded this property company’s shares to a neutral rating with a $2.50 price target. This appears to have been driven by a broker note out of Citi this morning. The Mirvac share price is down 1% to $2.37. The market may have been expecting stronger results from its drilling program. Investors have been selling this uranium developer’s shares following the release of an update on drilling activities at Alligator River. The Deep Yellow share price is down almost 4% to 51.5 cents. Two major shareholders have revealed that they are willing to accept the offer. BBRC International has offered $1.89 cash per share to acquire the company. This morning, this retailer confirmed the receipt of a takeover offer at a discount to its prevailing share price.
The Best & Less share price is down almost 3% to $1.93. Here’s why these ASX shares are falling: Best & Less Group Holdings Ltd ( ASX: BST)
The benchmark index is currently up 0.5% to 7,343.3 points.įour ASX shares that have failed to follow the market higher today are listed below. In afternoon trade, the S&P/ASX 200 Index (ASX: XJO) is on course to start the week with a decent gain.
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