The S&P/ASX 200 (Index: ^AXJO) (ASX: XJO) has managed to recoup some of its earlier losses but has still started the week off on the back-foot with a fall of 0.15% to 5,743 points.
The mining sector is the clear underperformer today, although the energy, gold and utilities sectors are posting quite healthy gains.
Four shares that are having a particularly bad day today, include:
South32 Ltd (ASX: S32)
The South32 share price has fallen more than 3.2% today, despite announcing a US$500 share buy-back. The buy-back is equivalent to around 4.5% of the miner's current market capitalisation and will be funded from existing cash reserves. Today's share price reaction is somewhat surprising considering buy-backs are generally quite well received. Nonetheless, shares of South32 have still managed to climb more than 70% over the past 12 months.
BHP Billiton Limited (ASX: BHP)
The BHP share price has plunged more than 3% today as investors react to last week's big drop in iron ore prices. The bulk commodity has enjoyed a huge run over recent months, but it appears traders are starting to lock in profits amid fears that prices may have peaked. Possibly adding to concerns is the wavering confidence in Donald Trump's ability to implement his pro-growth agenda that has also helped to boost mining shares recently.
Mesoblast limited (ASX: MSB)
The Mesoblast share price has fallen more than 7.5% to $2.21 today, after the biotechnology company announced a US$40 million capital raising. The placement will result in 26.25 million new shares being issued to institutional investors at an offer price of A$2.00 per share. Mesoblast will use the funds to advance its phase 3 clinical trials program as well as for developing manufacturing facilities in anticipation of new product approvals.
Stemcell United Ltd (ASX: SCU)
The Stemcell United share price has crashed more than 10.5% today, despite no news from the company. The small-cap company made headlines earlier this month after its shares catapulted more than 3000% in a single day after it announced that it was looking to pursue opportunities in the medical marijuana sector. The shares have since come back down to earth with the market realising there is still little evidence that Stemcell United has any credible prospects of becoming a major player in the sector.
