Iluka Resources (ILU): Loser of th Week

Submitted by Craig Strzelecki on 29 September, 2007 - 13:57

Iluka Resources (ILU) was the overall worst performing stock taking in a 10.24 percent decrease. Among the worst performing stocks for the week 39 of 2007 on the Australian sharemarket were a mixture of forestry, paper manufacturing, refining, mining and crop production: Futuris Corporation (FCL), PaperlinX (PPX), Caltex Australia (CTX), Iluka (ILU), Nufarm (NUF). These worst performing stocks for the week 39 recorded losses between 4.03 to 10.24 percent by the end of the trading week.

Futuris Corporation, a company generates the major share of its income from the Australian rural and primary production sector through rural services, beef production and forestry, was at the first place for the worst performing stocks for the ASX 100 index seeing 6.57 percent fall, losing 15 cents and closing at $2.13. Fututris Corporation was followed by PaperlinX, the world's leading fine paper merchant and an Australian manufacturer of high performance communication paper and packaging paper, losing 19 cents (-5.88%) and closing at $3.04. Caltex Australia, the largest refiner and marketer of petroleum products in Australia with operations in all states and territories, was at the third position for the worst performing list for ASX 100 index seeing 4.03 percent fall or 99 cents and closing at $23.54. On the ASX 200 index, Iluka, a mining company involved in the mining and processing of titanium based and zircon products which has operations in Australia and the US, was at the top of worst performing stock seeing 10.24 percent fall or 63 cents and losing at $5.52. Iluka was followed by Nufarm, the manufacturer of crop protection products in Australia with an extensive network of regional service centres, with a loss of 10.24 percent (-$1.53) and closing at $13.41. Futuris Corporation was at third position for the worst performing stocks for the ASX 200 index.