The S&P/ASX 200 index is on course to finish the week on a very positive note. In afternoon trade the benchmark index is up 0.7% to 6,371.6 points.
Four shares that have failed to follow the market higher today are listed below. Here's why they are ending the week in the red:
The Australia and New Zealand Banking Group (ASX: ANZ) share price is down almost 2.5% to $26.03 after the Reserve Bank of New Zealand (RBNZ) censured the banking giant. This morning the RBNZ revoked ANZ Bank New Zealand Limited's accreditation to model its own operational risk capital requirement due to a persistent failure in its controls and attestation process. This means that ANZ is now required to use the standardised approach and increase its minimum capital held for operational risk by around 60% to NZ$760 million.
The BWX Ltd (ASX: BWX) share price is down a further 5% to $1.61. On Thursday the personal care products company's shares crashed lower after it downgraded its EBITDA guidance for the full year. Due to the expected underperformance of the Sukin brand in the fourth quarter, management expects EBITDA to be between $21 million and $23 million in FY 2019. Previous guidance was for EBITDA in the range of $27 million and $29 million.
The Citadel Group Ltd (ASX: CGL) share price has crashed 35% lower to $4.41 following the release of a disappointing trading update out of the information management specialist. Due to delays in customer project extensions and a lower than usual increase in customer spend in the fourth quarter, Citadel expects EBITDA to be in the range of $22 million to $24 million. This compares to FY 2018's EBITDA of $34 million.
The St Barbara Ltd (ASX: SBM) share price has tumbled 12% lower to $2.92. This morning the gold miner's shares returned from a trading halt having successfully completed the institutional component of its underwritten entitlement offer. St Barbara raised $355 million at $2.89 per share through institutional investors. It will now seek to raise another $135 million via a retail entitlement offer. These funds will be used to acquire Canada-based low-cost gold producer Atlantic Gold Corporation.