In afternoon trade, the S&P/ASX 200 Index (ASX: XJO) has followed the lead of US markets and is dropping. At the time of writing, the benchmark index is down 0.4% to 7,502.1 points.
Four ASX shares that are falling more than most today are listed below. Here’s why they are dropping:
A2 Milk Company Ltd (ASX: A2M)
The A2 Milk share price has continued its slide and is down over 2% to $5.56. Earlier this week the team at Credit Suisse reiterated their underperform rating and $5.50 price target. The broker has concerns over China’s falling birth rates and the impact this may have on its sales. The A2 Milk share price is now down a very disappointing 52% in 2021.
Flight Centre Travel Group Ltd (ASX: FLT)
The Flight Centre share price is down 2.5% to $18.12. This appears to have been driven by profit taking after some strong gains in recent weeks. For example, prior to today, the travel agent’s shares were up a massive 35% since 20 August.
Medibank Private Ltd (ASX: MPL)
The Medibank share price is down 2.5% to $3.54. This private health insurer’s shares have fallen today after trading ex-dividend this morning for its fully franked 6.9 cents per share final dividend. Eligible shareholders can now look forward to receiving this dividend in a little over three weeks on 30 September.
St Barbara Ltd (ASX: SBM)
The St Barbara share price is down 6.5% to $1.46. Investors have been selling St Barbara and other gold miners today following a pullback in the gold price. According to CNBC, the spot gold price fell 2% on Tuesday night to US$1,796.40 an ounce. This was driven by the strengthening US dollar and higher bond yields.
The post Why A2 Milk, Flight Centre, Medibank, & St Barbara shares are dropping appeared first on The Motley Fool Australia.
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More reading
- Why the A2 Milk (ASX:A2M) share price has this leading broker’s Aussie clients scrambling
- ASX 200 midday update: Macquarie jumps, gold miners sink
- Leading broker reveals why these 10 big-name shares have been firing up its clients
- Dividends galore! 10 ASX shares trading ex-dividend on Wednesday
- 5 things to watch on the ASX 200 on Wednesday
Motley Fool contributor James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has recommended A2 Milk and Flight Centre Travel Group Limited. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.
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