Unfortunately the S&P/ASX 200 (Index: ^AXJO) (ASX: XJO) looks likely to finish the year with a day in the red. In afternoon trade the index is down 0.3% to 6,069 points.
Four shares that have acted as a drag on the market today are listed below. Here's why they are ending the week in the red:
The Australian Mines Limited (ASX: AUZ) share price has fallen 4% to 12.5 cents. This morning the mining company advised that non-executive director Neil Warburton has announced his retirement from the board effective 31 December 2017.
The Bega Cheese Ltd (ASX: BGA) share price has dropped over 2.5% to $7.26 despite there being no news out of the food company. But with its shares up sharply this year thanks partly to its acquisition of the Vegemite brand, this could be a spot of profit taking from investors.
The Nextdc Ltd (ASX: NXT) share price is down almost 2% to $6.00 after rejecting the chance to buy the Asia Pacific Data Centre Group (ASX: AJD) portfolio for $300 million. The data centre operator criticised the valuation made by the board appointed by 360 Capital Group Ltd (ASX: TGP). NEXTDC had the properties independently valued at $212.8 million just a few months ago.
The Saracen Mineral Holdings Limited (ASX: SAR) share price is down 3.5% to $1.69. Although the gold miners have sunk lower today, Saracen has fallen more than most. This may be due to profit taking as its shares have rallied an impressive 70% year-to-date.
