Australian shares have been smashed again today with the S&P/ASX 200 (Index: ^AXJO) (ASX: XJO) tumbling 1.8%, almost entirely wiping out yesterday's remarkable gain. The broader ALL ORDINARIES (Index: ^AXAO) (ASX: XAO) has also dropped 1.7% in what has been a bad day for investors.
Here are four stocks that have performed particularly poorly for the day…
NIB Holdings Limited (ASX: NHF) fell 3.3% after the health insurer announced the acquisition of World Nomads Group, which specialises in travel insurance, for a total of $95 million on an enterprise value basis. Currently trading at $3.35, NIB shares are hovering 13.6% below their all-time high ($3.88) recorded in March this year.
Analytica Limited (ASX: ALT) plummeted 35.3% after the medical device maker announced a material capital raising. Analytica, a $16 million company focused on treating patients who suffer Stress Urinary Incontinence, intends to use the $3.7 million raised for marketing and general working capital purposes.
Fortescue Metals Group Limited (ASX: FMG) fell 5.3% to a new six-year low of $1.69 after the iron ore price crashed another 5.1% overnight. The commodity is now fetching less than US$50 a tonne with further falls expected in the near future. For a miner with high operating costs and a mountain of debt, that will come as extremely concerning news.
South32 Ltd (ASX: S32) has also fallen as a result of tumbling commodity prices. Nickel, for instance, plunged 10% in what was its biggest one-day fall in more than five years, while various other commodities also declined in value. South32's shares dropped 3.3% with the stock now fetching just $1.76 per unit.
