The S&P/ASX 200 Index has failed to follow the lead of international markets on Thursday and has tumbled lower. In afternoon trade the benchmark index is down 0.4% to 6,199.2 points.
Four shares that have fallen more than most today are listed below. Here's why they have dropped lower:
The Bank of Queensland Limited (ASX: BOQ) share price has dropped 4% to $9.02 following the release of a weak half year result from the regional bank. Investors appear to have been left disappointed with its 8% decline in half year cash earnings and 10.5% cut to its interim dividend. In addition to this, management warned that the second half wasn't expected to be much better for the bank.
The BWX Ltd (ASX: BWX) share price has tumbled 5% to $2.36 despite there being no news out of the personal care products company. However, as I mentioned here yesterday, the BWX share price has rocketed higher over the last three months. This could have led to a spot of profit taking from investors today.
The Sims Metal Management Ltd (ASX: SGM) share price has continued its slide and is down a further 4% to $10.14. On Wednesday the scrap metal company revealed its medium term growth plans which include nearly doubling the non-ferrous business and growing the ferrous business by 40% in the United States within the next six years. Investors don't appear overly convinced with all aspects of the plan.
The Volpara Health Technologies Ltd (ASX: VHT) share price has fallen 4.5% to $1.80. I suspect this is down to profit taking from investors after an impressive share price rise earlier this week. In fact, the healthcare technology company's shares are still up 25% this week even after today's decline. A better than expected full year update was the catalyst for this rise.
