In afternoon trade, the S&P/ASX 200 Index (ASX: XJO) is back on form and charging higher. At the time of writing, the benchmark index is up 0.7% to 6,997.4 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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National Australia Bank Ltd (ASX: NAB)
The NAB share price is down 3.5% to $27.88. This has been driven by the banking giant's shares trading ex-dividend this morning for its fully franked final dividend of 84 cents per share. Eligible shareholders can now look forward to receiving this payout next month on 15 December.
OFX Group Ltd (ASX: OFX)
The OFX share price is down 10.5% to $1.37. Investors have been selling this foreign exchange and international payments company's shares following the release of its half-year results. OFX reported a small decline in underlying EBITDA for the half.
Origin Energy Ltd (ASX: ORG)
The Origin share price is down 3.5% to $8.48. Investors may have doubts that the energy giant's takeover will complete and have been taking profit today. Yesterday, AustralianSuper revealed that it has rejected an eleventh-hour and unsolicited letter received from the Brookfield and EIG consortium and reaffirmed that it will be voting against the takeover. The super fund continues to "believe the offer remains substantially below our estimate of Origin's long-term value."
Telstra Group Ltd (ASX: TLS)
The Telstra share price is down 2% to $3.87. The market has not responded positively to a major announcement from the telco giant this morning. Telstra revealed that it will build five new "major routes" as part of its Intercity Fibre project. Telstra CEO Vicki Brady said: "Connectivity will continue to play a key role in our economy and there is enormous potential for digital technologies to rewrite Australia's growth equation."
