STW Communications Group (SGN) Loser

Submitted by Craig Strzelecki on 4 August, 2007 - 12:56

STW Communications (SGN) was the overall worst performing stock taking in a 16.37 percent decrease. It was a mixture of media & communications, engineering & infrastructure, mining and aviation companies who were among the worst performing stocks for the week 31 of 2007 on the Australian sharemarket: STW Communications Group (SGN), Downer EDI (DOW), Paladin Energy (PDN), Babcock & Brown(BNB). These worst performing stocks for week 31 recorded losses more than 12.65 percent by the end of the trading week.

STW Communications Group, Australia's largest communications services group, was the overall worst performing stock taking in a 16.37 decrease. Downer EDI, an Australian company specialising in engineering and infrastructure management services to the power, rail, road, telecommunications, mining and mineral processing industries, took the ribbon for the worst performing stock on the ASX 100 index seeing 16.07 percent fall or $1.14 and closing at $5.95. Paladin Energy, Australia’s second biggest sole uranium mining company behind Energy Resources, which is majority owned by mining giant Rio Tinto, became the second in the list losing $1, closing at $6.50 and a negative move of 13.33 percent. Babcock & Brown (BNB) was next in the line losing 12.65 percent or $3.63 and closing at $25.05. On the ASX 200 index, STW Communications took the pole position decreasing by 16.3 percent, losing 46 cents and closing at $2.35. STW Communications was followed by Downer EDI securing second place of the worst performing stocks for the ASX 200 index. The third position was secured by Paladin Energy and it was followed by Babcock & Brown.