It has been a disappointing start to the week for the benchmark S&P/ASX 200 (Index: ^AXJO) (ASX: XJO). In afternoon trade the index is down 0.4% to 5,724 points.
Four shares that have fallen more than most are listed below. Here's why they have started the week in the red:
The BlueScope Steel Limited (ASX: BSL) share price has fallen a massive 21% to $11.01 after the leading steel producer released its full-year results. Although the company posted a 102% increase in net profit after tax to $715.9 million, investors appear to have been disappointed by the surprise retirement of its CEO and the impact that rising energy costs would have on the business.
The Monash IVF Group Ltd (ASX: MVF) share price is down 6% to $1.57 after the fertility treatment specialist reported its full-year results. Investors were no doubt left underwhelmed by the company's paltry 3% increase in net profit after tax to $29.6 million. Furthermore, profit is expected to be flat in FY 2018.
The NIB Holdings Limited (ASX: NHF) share price has dropped 6% to $5.66 despite the private health insurer reporting a 16% increase in underlying operating profit to $154 million. Moving forward the company has forecast organic growth in its Australian business of between 4% and 5% per annum.
The Vocus Group Ltd (ASX: VOC) share price has plunged 14% to $2.76 after the telco company revealed that after granting Kohlberg Kravis Roberts & Co and Affinity Equity Partners due diligence, takeover talks had ended. Investors appear to be concerned about what the two parties saw when they had a look under the hood.
