AGL Energy (AGK): Loser

Submitted by Craig Strzelecki on 13 October, 2007 - 15:56

AGL Energy (AGK) was the overall worst performing stock taking in a 4.4 percent decrease. Among the worst performing stocks for the week 41 of 2007 of the Australian sharemarket were a mixture of energy, pharmaceuticals and newspaper: AGL Energy (AGK), Sigma Pharmaceutical (SIP), WA Newspapers (WAN). These worst performing stocks recorded losses higher than 4.22 percent by the end of the trading week. Both the ASX 100 index and the ASX 200 index had the same companies in the top three positions for the worst performing stocks.

AGL Energy, which is striving to be a world-class integrated energy company, with major investments in the supply of gas and electricity, as well as a substantial base of customers across Australia, was the worst performing stock for the ASX 100 and ASX 200 indices seeing 4.4 percent fall or 72 cents and closing at $15.63. AGL Energy was followed by Sigma Pharmaceutical, a leading manufacturer and marketer of prescription, over-the-counter and generic pharmaceutical products, losing 7 cents, decreasing 4.34 percent and closing at $1.43. Sigma Pharmaceutical was followed by WA Newspapers positioning itself at the third place for the worst performing stocks list on the ASX 100 and the ASX 200 indices losing 63 cents, decreasing 4.22 percent and closing at $14.28. Insurance Australia Group (IAG), an international general insurance group, with operations in Australia, New Zealand, the United Kingdom and Asia, was at the fourth place of the ASX 100 index seeing 3.81 percent fall, losing 20 cents and closing at $5.05. Timbercorp (TIM), Australia’s leading agribusiness investment manager and which sources, funds, and manages high quality large scale forestry and horticulture projects, was the third runners up for worst performing stocks of the ASX 200 index losing 7 cents, decreasing 4.21 percent and closing at $1.59.