Why Bank of Queensland, Block, Fletcher Building, and Newcrest are dropping today

These ASX shares are ending the week in the red…

| More on:
a business man in a suit holds his hand over his eyes as he bows his head in a defeated post suggesting regret and remorse.

Image source: Getty Images

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

In afternoon trade, the S&P/ASX 200 Index (ASX: XJO) is on course to end the week in the red. At the time of writing, the benchmark index is down 0.5% to 7,168.3 points.

Four ASX shares that are falling more than most today are listed below. Here's why they are dropping:

Bank of Queensland Ltd (ASX: BOQ)

The Bank of Queensland share price is down 2% to $6.79. This appears to have been driven by a broker note out of Citi. According to the note, the broker has downgraded the regional bank's shares to a neutral rating with a reduced price target of $7.30. Citi believes the bank's profit growth will be challenged in the near term.

Block Inc (ASX: SQ2)

The Block share price is down 5% to $97.69. Investors have been selling this payments company's shares after a poor showing from its US listed shares overnight. Block's shares on the NYSE sank 7.5% on Thursday night after the tech sector was sold off amid concerns over rising interest rates.

Fletcher Building Limited (ASX: FBU)

The Fletcher Building share price is down almost 3% to $4.59. This morning, this building materials company released an update on the New Zealand International Convention Centre and Hobson Street Hotel project (NZICC). According to the release, despite good progress on site, the complexity of the rebuild means costs are now expected to exceed insurance proceeds on NZICC. This has resulted in an additional NZ$150 million provision for costs to complete the project.

Newcrest Mining Ltd (ASX: NCM)

The Newcrest share price is down 2% to $20.42. Investors have been selling Newcrest and other gold miners today after interest rate expectations climbed. This put pressure on the gold price during overnight trade and has led to the S&P/ASX All Ordinaries Gold index falling 2.4% this afternoon.

Should you invest $1,000 in Bank Of Queensland right now?

Before you buy Bank Of Queensland shares, consider this:

Motley Fool investing expert Scott Phillips just revealed what he believes are the 5 best stocks for investors to buy right now... and Bank Of Queensland wasn't one of them.

The online investing service he’s run for over a decade, Motley Fool Share Advisor, has provided thousands of paying members with stock picks that have doubled, tripled or even more.*

And right now, Scott thinks there are 5 stocks that may be better buys...

See The 5 Stocks *Returns as of 30 April 2025

Motley Fool contributor James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia's parent company Motley Fool Holdings Inc. has positions in and has recommended Block. The Motley Fool Australia has positions in and has recommended Block. 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 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 Dexus, Dusk, Fletcher Building, and Paladin Energy shares are falling today

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

Read more »

Couple look at a bottle of wine while trying to decide what to buy.
Consumer Staples & Discretionary Shares

Treasury Wine shares: Buy, hold, or sell? Here's Macquarie's take

What is Macquarie forecasting for Treasury Wine shares amid the CEO’s unexpected exit?

Read more »

A man sits in despair at his computer with his hands either side of his head, staring into the screen with a pained and anguished look on his face, in a home office setting.
Share Fallers

Why Newmont, NRW, Peet, and Treasury Wine shares are dropping today

Let's find out why investors are selling down these shares on Thursday.

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 Aristocrat, EBR, GQG, and Insignia shares are tumbling today

These shares are having a tough time on hump day. Let's find out 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 Healius, Light & Wonder, REA Group, and Regis Resources shares are falling today

These shares are ending the week in the red. Let's find out why.

Read more »

A man sits in despair at his computer with his hands either side of his head, staring into the screen with a pained and anguished look on his face, in a home office setting.
Share Fallers

Why ANZ, Brainchip, Light & Wonder, and Pilbara Minerals shares are falling today

These shares are tumbling on Thursday. But 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 Aurizon, JB Hi-FI, Nuix, and Platinum shares are tumbling today

These shares are falling on hump day. But why?

Read more »

A man sits in despair at his computer with his hands either side of his head, staring into the screen with a pained and anguished look on his face, in a home office setting.
Share Fallers

Why HMC Capital, Platinum, Sigma, and Skycity shares are dropping today

These shares are having a tough session on Tuesday. But why?

Read more »