Insights

Why Bega, Fortescue, Santos, and Silver Lake shares are tumbling lower

These ASX shares are starting the week in the red…
The post Why Bega, Fortescue, Santos, and Silver Lake shares are tumbling lower appeared first on The Motley Fool Australia. –

The S&P/ASX 200 Index (ASX: XJO) is on course to start the week with another decline. In late trade, the benchmark index is down 0.6% to 6,435 points.

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

Bega Cheese Ltd (ASX: BGA)

The Bega share price is down 8% to $4.00. This appears to have been driven by a broker note out of UBS this morning. According to the note, the broker has downgraded the diversified food company’s shares to a neutral rating and cut the price target on them to $4.75. UBS believes that higher input costs are going to stifle Bega’s recovery.

Fortescue Metals Group Limited (ASX: FMG)

The Fortescue share price is down 8.5% to $17.03. Investors have been selling Fortescue and other mining shares today following a pullback in commodity prices. This saw the iron ore price drop a sizeable 7% on Friday night. The S&P/ASX 200 Resources index is down 5.1% this afternoon.

Santos Ltd (ASX: STO)

The Santos share price has dropped 6% to $7.34. Investors have been selling Santos and other energy shares after oil prices sank on Friday night. Traders were selling down oil prices amid concerns that rising rates could cause a global recession and weigh on demand. This has led to the S&P/ASX 200 Energy index falling 5.3% on Monday.

Silver Lake Resources Limited (ASX: SLR)

The Silver Lake share price is down 9% to $1.48. This follows weakness in the gold sector today which has seen the S&P/ASX All Ords Gold index tumble over 5% on Monday. The precious metal pulled back on Friday amid strength in the US dollar.

The post Why Bega, Fortescue, Santos, and Silver Lake shares are tumbling lower appeared first on The Motley Fool Australia.

Wondering where you should invest $1,000 right now?

When investing expert Scott Phillips has a stock tip, it can pay to listen. After all, the flagship Motley Fool Share Advisor newsletter he has run for over ten years has provided thousands of paying members with stock picks that have doubled, tripled or even more.* Scott just revealed what he believes could be the “five best ASX stocks” for investors to buy right now. These stocks are trading at near dirt-cheap prices and Scott thinks they could be great buys right now

See The 5 Stocks
*Returns as of January 12th 2022

setButtonColorDefaults(“#43B02A”, ‘background’, ‘#5FA85D’);
setButtonColorDefaults(“#43B02A”, ‘border-color’, ‘#43A24A’);
setButtonColorDefaults(“#fff”, ‘color’, ‘#fff’);
})()

More reading

Why are ASX 200 iron ore shares getting hammered on Monday?
Fortescue share price plunges 7%, but here’s why Twiggy’s not worried about a Chinese iron ore cartel
ASX 200 midday update: PointsBet jumps, energy shares sink, Vicinity’s upgrade
5 things to watch on the ASX 200 on Monday
These were the best performing ASX 200 shares last week

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 no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

Trade The World Anywhere & Anytime!

Mobile app platform with over 50,000 global listed securities across 12 markets (over 70% global market capitalisation), right from your Android or iOS device.

Integrated with exclusive trading idea and investment analysis tools to help you find actionable insight on virtually every financial instrument across our 12 global markets, to help you optimise your trading strategies.

Refer Your Friends

Tell your friends about Monex and gift them FREE access to our trading tools.

  • This field is for validation purposes and should be left unchanged.

We respect your privacy and will only send this one email notification to your friends. 

Share With Your Friends

Free Share Allocation Reward Levels

STARTER

Class
$ 2,500 Deposit & Trade
  • REWARD^
  • 1 x Marathon Oil Corporation (NYSE:MRO)

ECONOMY

Basic
$ 5,000 Deposit & Trade
  • REWARD^
  • 1 x Pfizer Inc (NASDAQ:PFE)

ECONOMY

Standard
$ 10,000 Deposit & Trade
  • REWARD^
  • 1 x Amazon.com Inc (NASDAQ:AMZN)

ECONOMY

Plus
$ 25,000 Deposit & Trade
  • REWARD^
  • 2 x Apple Inc (NASDAQ:AAPL)
POPULAR

BUSINESS

Class
$ 50,000 Deposit & Trade
  • REWARD^
  • 4 x Apple Inc (NASDAQ:AAPL)

FIRST

Class
$ 150,000 Deposit & Trade
  • REWARD CHOICES^
  • 12 x Apple Inc (NASDAQ:AAPL)
  • 2 x Tesla (NASDAQ:TSLA)
^Please refer to the Free Share Promotion Terms and Conditions for details.

Monex Trading Tools Access and Usage Terms

The Monex Trading Tools (referred to as ‘tools’ hereafter) are available to you inside your client portal;

To activate access to the tools, you must have a verified and approved trading account and have made a deposit of at least AUD $1000.

An active and funded account with a positive trading balance is required to continue to have access to the tools;

Although the tools are available to you, Monex Securities may at it’s discretion disable access to the tools in the future;

Monex Securities reserves the right to change these terms and conditions from time to time, as it sees fit, without notice.

FREE AAPL, TSLA, AMZN, PFE or MRO Share(s)
REGISTER TO BE ELIGIBLE FOR FREE SHARES
TRAVEL ACROSS THE FINANCIAL WORLD
Act Fast - Promotion Ends In
Click Here To Get Started
FREE AAPL, TSLA, AMZN, PFE or MRO Share(s)
REGISTER TO BE ELIGIBLE FOR FREE SHARES
TRAVEL ACROSS THE FINANCIAL WORLD
Act Fast - Promotion Ends In
Click Here For More Info