Gunns (GNS): Best Performing Shares

Submitted by Craig Strzelecki on 10 June, 2007 - 11:56

It was the mixture of project development, boardsport manufacturing, developers and operators of toll roads, hardwood forest products, power generation and mining companies who were among the best performing stocks for the week 40 of 2007 on the Australian sharemarket: Leighton Holdings (LEI), Billabong International (BBG), Macquarie Infrastructure (MIG), Gunns (GNS), Babcock & Brown Power (BBP), Straits Resources (SRL). These best performing stocks managed gains over 5.76 percent by the end of the trading week.

Leighton Holdings, which offers a broad range of project development and contracting services and skills to public and private sector clients from a wide range of industries, took the ribbon for the best performing stock for the ASX 100 index seeing 8.05 percent increase, adding $4.15 and closing at $55.65. Billabong International, best known as a core boardsports and lifestyle brand that appeals to young people, came in the second position adding 88 cents, increasing 5.87 percent and closing at $15.86. Macquarie Infrastructure, secured the third position adding 18 cents (+5.76%) and closing at $3.30. On the ASX 200 index, Gunns, Australia's largest fully integrated hardwood forest products company which owns 185,000 hectares of freehold land and manages in excess of 110,000 hectares of plantations, secured the first place adding 86 cents, increasing 30.82 percent and closing at $3.65. Babcock & Brown Power, a power generation business, with assets diversified by geographic location, fuel source, customers, contract types and operating mode, secured the second place closing at $3.16 (+$0.28, +9.72%). Babcock & Brown Power was followed by Straits Resources, the company which is focused on acquiring and developing assets within the gold, copper and bulk commodities sectors, adding 45 cents, increasing 9.67 percent and closing at $5.10.