Independence Group (IGO): Loser

Independence Group (IGO) was the worst performing company on the Australian stockmarket (Loser of the week for week 20 of 2007). The company was also the worst performer on the ASX200 index. The Independence Group share price lost 92 cents or 11 percent and closing the week at $7.40. The loss can be attributed to the fact that the nickel price had dropped. ASX 200 closed the week at 6252.8 and the ALL Ordinaries closed the week on 6273.3. Other losers: On the ASX100 Macquarie Bank (MBL) lost $7.65 or 7.9% in share value, closing at $89.45. On the ASX200 Minara closed at $8.48 losing 82 cents or 8.8% in value.