Monadelphous Group (MND) Loser

Submitted by Craig Strzelecki on 11 August, 2007 - 15:56

Monadelphous Group (MND) was the overall worst performing stock taking in 18.07 percent decrease. Among the worst performing stocks for the week 32 of 2007 of the Australian sharemarket were a mixture of engineering & infrastructure, steel and mining: Downer EDI (DOW), OneSteel (OST), Zinifex (ZFX), Monadelphous (MND), Energy Resource Australian (ERA), Perilya (PEM). These worst performing stocks for week 32 recorded losses above 10.4 percent by the end of the trading week. Mining companies were dominating both the ASX 100 index and the ASX 200 index in the worst performing stocks list.

Downer EDI, an Australian company specialising in engineering and infrastructure management services to the power, rail, road, telecommunications, mining and mineral processing industries, was the worst performer for the ASX 100 index seeing 11.09 percent fall or losing 66 cents and closing at $5.29 by the end of the trading week. OneSteel, Australia’s premier manufacturer of steel long products and a leading metals distribution company, with revenues in excess of $6 billion Australian dollars, came in the second position closing at $6.01 and losing 74 cents (-10.96%). OneSteel was followed by Zinifex, a mining, exploration and development company focussing on base metals projects in Australia and other international locations, seeing 10.42 percent fall, losing $1.98 and closing at $17.01. On the ASX 200 index, Monadelphous, a leading engineering group providing extensive engineering construction, maintenance and industrial services to the resources, energy and infrastructure sectors, was at the first place losing $2.89, decreasing 18.07 percent and closing at $13.10. Monadelphous was followed by Energy Resource Australia, one of the largest uranium producers in the world, providing 10 per cent of the world's uranium production, losing $3.00 and closing at $16.90 (-15.07%). Perilya, a leading Australian base metals mining and exploration company and is in the top 20 of global producers for zinc and the top 10 for lead production, came next in the line closing at $3.87 (-$0.58, -13.03%).