In afternoon trade, the S&P/ASX 200 Index (ASX: XJO) is on course to record a strong gain. At the time of writing, the benchmark index is up 0.85% to 6,896.4 points.
Four ASX shares that have failed to follow the market's lead today are listed below. Here's why they are falling:
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Northern Star Resources Ltd (ASX: NST)
The Northern Star share price is down 2.5% to $11.61. This follows a pullback in the gold price and improving investor sentiment. The latter is reducing demand for safe-haven assets. It isn't just Northern Star that is falling. The S&P/ASX All Ordinaries Gold index is down 1.1% this afternoon.
Origin Energy Ltd (ASX: ORG)
The Origin share price is down 7% to $8.42. Investors have been selling this energy giant's shares despite the company receiving an improved takeover offer from the Brookfield consortium. It has increased its offer to $9.53 per share. However, with AustralianSuper rejecting this best and final offer, the market appears to believe the deal could be off.
Santos Ltd (ASX: STO)
The Santos share price is down 2.5% to $7.56. This morning, this energy producer released an update on its Barossa project. It advised that the Federal Court of Australia has granted an interim injunction to prevent Santos from commencing to lay the Barossa Gas Export Pipeline (GEP) until 13 November. The Court will sit again on 13 November to determine whether to extend the injunction until a final hearing.
SSR Mining Inc (ASX: SSR)
The SSR Mining share price is down 15% to $18.30. This follows the release of a disappointing quarterly update from the gold miner. SSR revealed that its profits were materially impacted by new corporate tax regulations in Turkey.
