Why ANZ, BWX, Citadel, & St Barbara shares are ending the week in the red

The Australia and New Zealand Banking Group (ASX:ANZ) share price and the St Barbara Ltd (ASX:SBM) share price are two of four ending the week deep in the red. Here's why…

| More on:
a woman

You’re reading a free article with opinions that may differ from The Motley Fool’s Premium Investing Services. Become a Motley Fool member today to get instant access to our top analyst recommendations, in-depth research, investing resources, and more. Learn More

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.

Motley Fool contributor James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia owns shares of and has recommended BWX Limited. The Motley Fool Australia has recommended Citadel Group Ltd. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

More on Share Fallers

A male investor wearing a blue shirt looks off to the side with a miffed look on his face as the share price declines.
Share Fallers

Why Megaport, Pilbara Minerals, Vysarn, and WiseTech shares are falling today

These shares are ending the week in the red. But why?

Read more »

A young man clasps his hand to his head with his eyes closed and a pained expression on his face as he clasps a laptop computer in front of him, seemingly learning of bad news or a poor investment.
Share Fallers

Why Accent, Sayona Mining, Web Travel, and Weebit Nano shares are dropping today

These shares are having a tough time on Thursday. Why are they being sold off?

Read more »

A smartly-dressed man screams to the sky in a trendy office.
Share Fallers

Why Appen, DroneShield, PWR, and Webjet shares are sinking today

These shares are having a tough time on hump day. But why?

Read more »

a car driver sits up and looks alert with wide eyes and an expression of concentration while he holds the wheel of a car.
Share Fallers

Why this ASX All Ordinaries stock just crashed 24%!

Investors are punishing the ASX All Ords company today. Let’s find out why.

Read more »

A male investor wearing a blue shirt looks off to the side with a miffed look on his face as the share price declines.
Share Fallers

Why Elders, KMD, Lovisa, and Telix shares are dropping today

These shares are missing out on the good times on Tuesday. But why?

Read more »

A woman with short brown hair and wearing a yellow top looks at the camera with a puzzled and shocked look on her face as the Westpac share price goes down for no reason today
Share Fallers

Why Life360, Lovisa, NAB, and Resolute shares are falling today

These shares are starting the week in the red. But why?

Read more »

A young woman holds an open book over her head with a round mouthed expression as if to say oops as she looks at her computer screen in a home office setting with a plant on the desk and shelves of books in the background.
Healthcare Shares

This ASX All Ords share is diving 18% as inflation pain draws blood

This healthcare company delivered a trading update at its annual general meeting today.

Read more »

A woman with a sad face looks to be receiving bad news on her phone as she holds it in her hands and looks down at it.
Share Fallers

Why Healius, Opthea, Peninsula Energy, and Wildcat shares are falling today

These shares are having a tough finish to the week. But why?

Read more »