The S&P/ASX 200 Index (ASX: XJO) is on course to end the week with a disappointing decline. In afternoon trade, the benchmark index is down 1.3% to 8,822.4 points.
Four ASX shares that are falling more than most today are listed below. Here’s why they are dropping:
BHP Group Ltd (ASX: BHP)
The BHP Group share price is down almost 6% to $52.05. This reflects significant weakness in the resources sector on Friday. This may be due to demand concerns for copper and iron ore, as well as investors taking profit and rotating their funds into cheaper areas of the market. At the time of writing, the S&P/ASX 200 Resources index is down 4.3%.
Northern Star Resources Ltd (ASX: NST)
The Northern Star share price is down 7% to $27.36. Investors have been selling Northern Star and other gold miners on Friday following a pullback in the gold price overnight. Traders have been selling the precious metal amid concerns that inflation could spike from higher energy costs. This could mean interest rates rise, which reduces the allure of the safe haven asset. In addition, the US dollar has been strengthening because of this, which has an inverse effect on the gold price. The S&P/ASX All Ordinaries Gold index is down by 5.2% in afternoon trade.
Resimac Group Ltd (ASX: RMC)
The Resimac share price is down 18% to 98.5 cents. This has been driven by the non-bank lender’s shares going ex-dividend this morning for its interim and special dividends. Last month, Resimac released its half-year results and declared a fully franked interim dividend of 4 cents per share and a 9 cents per share fully franked special dividend. Based on its last close price, this equates to a total dividend yield of over 11%. Eligible shareholders can look forward to receiving this dividend later this month on 24 March.
Tivan Ltd (ASX: TVN)
The Tivan share price is down 6% to 37 cents. This morning, this mineral exploration company announced the establishment of a community development initiative committing up to $1 million of funding over four years to support Indigenous communities in remote regions in Central Australia. While this is noble and undoubtedly a great thing for the community, last month, the company reported a net loss of $4.9 million and cash reserves of $11.9 million. Some investors may be concerned that it could quicken the path to a capital raising.
The post Why BHP, Northern Star, Resimac, and Tivan shares are falling today appeared first on The Motley Fool Australia.
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More reading
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- Why BHP, EQ Resources, Lottery Corp, and Woodside shares are falling today
- Why is BHP share price sinking today?
- 5 Australian stocks to buy and hold for the next 5 years
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 BHP Group. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.