Why Centuria Capital, Iluka, Metcash, and Reliance Worldwide shares are falling today

The S&P/ASX 200 Index (ASX: XJO) is fighting hard to stay in positive territory. At the time of writing, the benchmark index is up a fraction to 8,821 points.

Four ASX shares that have failed to follow the market higher today are listed below. Here’s why they are falling:

Centuria Capital Group (ASX: CNI)

The Centuria Capital share price is down over 6% to $2.04. This follows the successful completion of an institutional placement and entitlement offer. Centuria Capital has raised $265 million at $2.00 per new share. This represents a discount of 8.25% to its last close price. Centuria’s joint CEOs, John McBain and Jason Huljich, commented: “The Centuria and ResetData combination has created a differentiated NVIDIA neocloud partner with scalable sovereign AI Factories and access to Centuria’s real estate, land and potential 200MW+ power pipeline. ResetData is one of three Australian NVIDIA Cloud Partners and is uniquely placed to take advantage of an upswing in international demand for the establishment of Australian-based AI Factory capacity uptake. It is worth noting that comparable neocloud platforms in Australia have experienced rapid re-ratings as contracts and scale have emerged and we have this firmly in mind as we respond to increased AI demand and build out our capability in this area.”

Iluka Resources Ltd (ASX: ILU)

The Iluka Resources share price is down 11% to $7.24. This is despite the mineral sands and rare earths company announcing a major offtake agreement this morning. Iluka revealed that it has signed a binding, multi-year agreement for the supply of magnet rare earth oxides to a global automotive company. The agreement sets pricing at the higher of minimum and market-linked prices for each product to balance the dual risks of downside price volatility and security of supply. Iluka advised that its minimum revenue over the contract period is US$155 million. But assuming industry forecast pricing, Iluka’s revenue over the contract period would be US$172 million.

Metcash Ltd (ASX: MTS)

The Metcash share price is down 3% to $3.02. This may have been driven by a broker note out of Ord Minnett this morning. The broker has downgraded the wholesale distributor’s shares to a hold rating (from buy) with a reduced price target of $3.50 (from $3.70). While Metcash’s FY 2026 result was in line with expectations, Ord Minnett was disappointed with its trading update for the first seven weeks of FY 2027.

Reliance Worldwide Corporation Ltd (ASX: RWC)

The Reliance Worldwide share price is down 2.5% to $3.58. Investors have been selling the plumbing parts company’s shares after it revealed that it is closing its brass casting, forging, and machining operations in Melbourne, along with additional smaller sites. This is part of its ongoing optimisation of its global manufacturing operations. Management revealed that it expects to recognise a one-off net charge of US$100 million to US$110 million in FY 2026.

The post Why Centuria Capital, Iluka, Metcash, and Reliance Worldwide shares are falling today appeared first on The Motley Fool Australia.

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• This ASX 200 stock just dropped 4% after revealing a big business reset
• Which rare earths miner has locked in a $1.65 billion funding deal?
• Centuria Capital Group wraps up $300m equity raise and shares resume trading
• Reliance Worldwide closes Australian brass sites

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 no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.