In afternoon trade the S&P/ASX 200 Index (ASX: XJO) is on course to start the week with a decline. At the time of writing the benchmark index is down 0.25% to 5,833.3 points.
Four shares that have fallen more than most today are listed below. Here’s why they are dropping lower:
The ASX Ltd (ASX: ASX) share price is down 1.5% to $84.10. This appears to have been driven by a broker note out of Ord Minnett this morning. According to the note, the broker has downgraded the stock exchange operator’s shares to a lighten rating with a $78.00 price target. It believes trade volumes may have peaked and appears concerned over futures volumes.
The Domain Holdings Australia Ltd (ASX: DHG) share price has fallen 5.5% to $3.14. Investors have been selling the property listings company’s shares despite auction clearance rate improving in Melbourne and Sydney last week. According to CoreLogic, combined capital city preliminary auction clearance rate hit 63.3% last week. It was also the busiest week for auctions in almost two months. Investors may have been anticipating an even stronger clearance rate.
The Tyro Payments Ltd (ASX: TYR) share price has fallen almost 6% to $3.58. This follows the release of its latest weekly update. According to the release, as of June 12, Tyro Payments’ transaction value was up 6% month to date compared to the prior corresponding period. Investors may have been expecting a bigger jump in volumes now restrictions are easing.
The Wesfarmers Ltd (ASX: WES) share price has dropped over 2.5% to $41.32 despite there being no news out of the conglomerate. However, prior to today, the Wesfarmers share price was up 12% in the space of a month. This may have led to some investors deciding to take a bit of profit off the table today.
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More reading
- Keep a watch on the Zip Co share price and 1 other ASX tech this June
- ASX 200 down 0.3%: Big four banks mixed & Healius rockets on medical centre sale
- ASX 200 Weekly Wrap: ASX bears take control as market volatility returns
- 5 things to watch on the ASX 200 on Monday
- Why the Healius share price will be in the spotlight tomorrow morning
James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. owns shares of Tyro Payments. The Motley Fool Australia owns shares of Wesfarmers Limited. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.
The post Why ASX, Domain, Tyro, & Wesfarmers shares are dropping lower appeared first on Motley Fool Australia.
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