Timbercorp (TIM) - Worst Performing Shares

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

Timbercorp (TIM) was the overall worst performing stock taking in a 12.16 percent decrease. It was a mixture of energy, consumer products, hearing solutions and agribusiness companies who were among the worst performing stocks for the week 40 of 2007 on the Australian sharemarket: Paladin Energy (PDN), Goodman Fielder (GFF), Cochlear (COH), Timbercorp (TIM). These worst performing stocks for the week 40 recorded losses above 5.69 percent by the end of the trading week.

Paladin Energy, Australia’s second biggest sole uranium mining company behind Energy Resources, which is majority owned by mining giant Rio Tinto, took the ribbon for the worst performing stocks on the ASX 100 index seeing 11.88 percent fall or 92 cents and closing at $6.82. Goodman Fielder, which has an excellent portfolio of well known consumer brands in some of Australia's largest grocery categories including Meadow Lea, Praise, White Wings, Pampas, Mighty Soft, Helga's, Wonder White, became the second in the list losing 26 cents, decreasing 10.07 percent and closing at $2.32. Goodman Fielder was followed by Cochlear, a global leader in innovative, implantable hearing solutions and which focuses on a continuous service-oriented experience from start to finish, seeing 5.96 percent fall or $4.65 and closing at $73.31. On the ASX 200 index, Timbercorp (TIM), Australia’s leading agribusiness investment manager and which sources, funds, and manages high quality large scale forestry and horticulture projects, took the pole position for the worst performing stock decreasing by 12.16 percent, losing 23 cents and closing at $1.66. Timbercorp was followed by Paladin Energy in the ASX 200 worst performing list. Goodman Fielder was at the third position by the end of the trading week.