Best Performing Australian Companies for the Week 45 of 2007

Submitted by Share Trading on 3 November, 2007 - 13:57

Jubilee Mines (JBL) was the overall best performing Australian company taking in a 37.7 percent increase of its stock price this week. Among the best performing stocks for the week 45 of 2007 on the Australian sharemarket were a mixture of mining and retail: Harvey Norman (HVN), Paladin Energy (PDN), Oxiana (OXR), Jubilee Mines (JBM), Independence Group (IGO), Sally Malay (SMY). These best performing stocks for week 45 of 2007 recorded gains above 7.9 percent by the end of the trading week. Mining and exploration companies were dominating both the ASX 100 index and the ASX 200 index in the best performing stock list. Five out of six of above companies were mining companies which illustrate the advantage the mining segment had for the past week.

Harvey Norman, one of the leading retailers was the best performing stock on the ASX 100 index, seeing 9.8 percent increase, adding 61 cents and closing at $6.80. Paladin Energy, one of the largest uranium exporters having operations in Australia and Africa, came in the second position adding 71 cents, closing at $8.55 and increasing 9%. Paladin Energy was followed by Oxiana, the international mining and exploration company that is proposed to be merged with Zinifex, adding 30 cents (closing at $4.09, +7.9%). On the ASX 200 index, Jubilee Mines, the mining and exploration company secured the first place adding $6.45, increasing 37.7% and closing at $23.55 at the end of the trading week. Independence Group, another mining company came next in the line seeing 23% rise, adding $1.38 and closing at $7.38. Independence Group was followed by Sally malay securing third position of the list closing at $5.89 (+$0.99, +20.2%). The speciality of the week was that Harvey Norman who was the best performing stock for the ASX 100 index was at the tenth position for the ASX 200 index.