The S&P/ASX 200 Index (ASX: XJO) is having another disappointing session. At the time of writing, the benchmark index is down 0.5% to 8,223.4 points.
Four ASX shares that are falling more than most today are listed below. Here's why they are dropping:
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Endeavour Group Ltd (ASX: EDV)
The Endeavour Group share price is down a further 3.5% to $4.36. Investors have been selling this drinks giant's shares this week following the release of a first quarter trading update. Endeavour revealed a modest 0.5% increase in group sales to $3,105 million for the three months. This reflects a better than expected performance from its Hotels business, but a miss from its Drinks business. Endeavour Group's CEO, Steve Donohue, advised that "cost of living pressures continued to impact consumer spending in our categories" during the quarter.
Global Data Centre Investment Fund (ASX: GDC)
The Global Data Centre share price is down 56% to $1.43. This has been driven by the data centre focused investment fund's shares going ex-capital return this morning. Ahead of its upcoming suspension from trade following investment disposals (Airtrunk and ETIX Everywhere), the company will be returning capital to shareholders. A total of approximately $1.067 per share will be heading to eligible shareholders later this month on 27 November.
OFX Group Ltd (ASX: OFX)
The OFX Group share price is down 10% to $1.32. Investors have been selling this international payment services provider's shares this morning following the release of its half year results. OFX reported a 4% decline in turnover to $18.4 billion and a 20.6% decline in underlying net profit after tax to $13.5 million. OFX's CEO, Skander Malcolm, said: "The first half was impacted by tough macroeconomic conditions as shifts in the interest rate cycle happened later than we expected. This meant corporate confidence in the UK and Canada was subdued, impacting ATVs, while our Australian Consumer business was also impacted by lower volatility."
Paladin Energy Ltd (ASX: PDN)
The Paladin Energy share price is down 25% to $7.31. The catalyst for this has been the release of an update on the uranium miner's guidance for FY 2025. It said: "As a result of the lower than expected production results for October, and noting the ongoing challenges and operational variability experienced to date in ramping up production at the LHM, Paladin has determined to revise its FY2025 production guidance to 3.0 – 3.6 Mlb (previously 4.0 – 4.5 Mlb) and withdraw all other guidance in relation to FY2025."
