The S&P/ASX 200 Index (ASX: XJO) is on course to end the week in a disappointing fashion. In afternoon trade the benchmark index is down 0.6% to 6,595.2 points.
Four shares that have fallen more than most today are listed below. Here's why they are dropping lower:
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Beach Energy Ltd (ASX: BPT)
The Beach Energy share price is down 3.5% to $1.77. Investors have been selling energy shares on Friday after oil prices pulled back. According to Bloomberg, the WTI crude oil price is currently down 1.4% to US$45.06 a barrel. This has led to the S&P/ASX 200 Energy index falling 2.3% in afternoon trade.
Bravura Solutions Ltd (ASX: BVS)
The Bravura share price is down over 1% to $3.28. This appears to have been driven by a broker note out of Wilsons this morning. Its analysts remain concerned with the financial technology company's near term prospects. As a result, they have reiterated their underweight rating and $2.97 price target on the company's shares. Earlier this week Bravura advised that its profits would be weighted 80% to the second half in FY 2021.
Flight Centre Travel Group Ltd (ASX: FLT)
The Flight Centre share price is down almost 4.5% to $17.15. Investors have been selling travel shares today amid concerns over the data from the AstraZeneca COVID-19 vaccine candidate. As an effective dosing regimen was given purely to a group filled with under 55s, which are classed as lower risk, there are concerns that the vaccine may not be as effective for higher risk individuals.
Treasury Wine Estates Ltd (ASX: TWE)
The Treasury Wine share price has crashed 11% lower to $9.23. This follows an announcement by the Chinese Ministry of Commerce which reveals that it will apply provisional anti-dumping measures on Australian wine imports into China. The wine giant has requested a trading halt, pending the release of a response to the announcement.
