Downer EDI: Worst Performer for Week 44 of 2007

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

Downer EDI (DOW) was the overall worst performing stock taking in a 13.5 percent decrease. Among the worst performing stocks for the past trading week (week 44 for 2008) on the Australian sharemarket were a mixture of oil, mining and paper: Downer EDI (DOW), Zinifex (ZFX), PaperlinX (PPX), Roc Oil (ROC). Mining companies dominated the worst performing stock lists of both the ASX 100 and ASX 200 indices. These worst performing stocks for week 44 were ranged from 10.5 percent to 13.5 percent in their loss.

Downer EDI, an Australian company specialising in engineering and infrastructure management services to the power, rail, road, telecommunications, mining and mineral processing industries was placed first in the worst performing stocks for the ASX 100 seeing 13.5 percent fall, losing 91 cents and closing at $5.79 at the end of the trading week. Downer EDI was followed by Zinifex, a mining, exploration and development company focusing on base metals projects in Australia and other international locations was the next losing $1.99 and decreased by 10.9 percent (close $16.16). PaperlinX, the world's leading fine paper merchant and an Australian manufacturer of high performance communication paper and packaging paper was the third of worst performing stocks seeing 10.5 percent fall, losing 30 cents and closing at $2.55. On the ASX 200 index, Downer EDI was at the first position of the worst performing stocks. Downer EDI was followed by Roc Oil, one of Australia’s leading independent oil and gas companies with approximately 298.9 million shares on issue and a market capitalisation around $890 million as at 31 March 2008, closing at $3.29 (-$0.50, -13.1%). Zinifex was at the third position of the list.