It certainly was a great month for the S&P/ASX 200 Index (ASX: XJO). Over the period, the benchmark index rose a massive 5.7% to end at 6,945.2 points.
Unfortunately, not all shares climbed with the market. Here's why these were the worst performing ASX 200 shares in July:
Image source: Getty Images
EML Payments Ltd (ASX: EML)
The EML share price was the worst performer on the ASX 200 last month with a 14.6% decline. This was driven by the surprise exit of its CEO and an update on its European operations. In respect to the latter, the payments company revealed that the Central Bank of Ireland has not approved the remediation programme for its European operations. The bank identified "shortcomings" in components of the programme, principally the sequencing and approach taken to the risk assessment of its distributors, corporates and customers.
Champion Iron Ltd (ASX: CIA)
The Champion Iron share price was out of form and dropped 11% in July. This was driven largely by weakness in the iron ore price amid concerns over Chinese demand. The latter was not helped by news that Chinese authorities have officially established a new, nationalised iron-ore company called China Mineral Resources Group.
Graincorp Ltd (ASX: GNC)
The Graincorp share price was a poor performer and fell 10.4% last month. This was despite there being no real news out of the company. Though, it is worth noting that the grain exporter's shares traded ex-dividend in July for its latest payout. In addition, with its shares still up over 60% since this time last year, it's possible that some profit taking was happening.
Elders Ltd (ASX: ELD)
The Elders share price also dropped 10.4% in July. Once again, this was despite there being no news out of the agribusiness company. Some investors may have been rotating out of the agricultural sector into the rebounding tech sector last month.
