The S&P/ASX 200 Index (ASX: XJO) is out of form on Friday and trading lower. In afternoon trade, the benchmark index is down 0.2% to 8,482.8 points.
Four ASX shares that are falling more than most today are listed below. Here's why they are dropping:
Electro Optic Systems Holdings Ltd (ASX: EOS)
The EOS share price is down 5% to $9.13. This defence and space company's shares are falling today after it confirmed that its CEO, Dr Andreas Schwer, has sold shares as planned. It advised that on Thursday, Dr Schwer sold 1.5 million shares for an average of $9.28 per share. This equates to a total consideration of approximately $13.9 million. EOS notes that Dr Schwer still holds approximately 1.4 million shares in EOS. These are valued at approximately $12.7 million based on its current share price. The company's leader has "no intention to make further divestments before the next trading window which may open in mid-April 2026."
Latitude Group Holdings Ltd (ASX: LFS)
The Latitude share price is down 7% to 94 cents. This has been driven by the consumer finance company's shares going ex-dividend this morning. Last month, the company released its FY 2025 results and declared a final fully franked dividend of 5 cents per share. Eligible shareholders can look forward to receiving this payout next month on 21 April.
Northern Star Resources Ltd (ASX: NST)
The Northern Star share price is down almost 3% to $18.46. This follows a pullback in the gold price overnight amid concerns that soaring energy prices could lead to higher inflation in the United States and send interest rates higher. This would be bad news for gold, which is a safe haven asset and popular when interest rates are low. The S&P/ASX All Ordinaries Gold index is down 2% at the time of writing.
Rio Tinto Ltd (ASX: RIO)
The Rio Tinto share price is down almost 3% to $146.94. Investors have been selling miners on Friday following a drop in base metal prices overnight. According to CommSec, copper futures dropped 2.2% and hit three-month lows on concerns that surging oil prices could hit global economic growth. This has led to the S&P/ASX 200 Resources index falling 1.4% this afternoon.
The post Why EOS, Latitude, Northern Star, and Rio Tinto shares are falling today appeared first on The Motley Fool Australia.
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 positions in and has recommended Electro Optic Systems. 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.
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