Bendigo Bank: The Best Performer for Week 47 of 2007

Submitted by Craig Strzelecki on 24 November, 2007 - 15:55

Bendigo Bank was the overall best performing stock taking in a 15.41 percent increase. Among the best performing companies for the past week (week 47 of 2007) on the Australian sharemarket was a mixture of financial services, retail, farming, agribusiness and travelling: Bendigo Bank (BEN), CFS Retail (CFX), Wesfarmers (WES), Timbercorp (TIM), Flight Centre (FLT). These best performing stocks for week 47 managed gains above 3.25 percent by the end of the trading week.

Bendigo Bank, which has about 340 branches across Australia, was the best performing stock securing the first place in the ASX 100 index seeing 15.41 percent or $2.07 and closing at $15.50 by the end of the trading week. Bendigo Bank was followed by CFS Retail, which acquired the Colonial First State Retail Property Trust, previously one of the four underlying trusts which together made up the former listed Colonial First State Property Trust Group (CFT), adding 10 cents, increasing 4.38 percent and closing at $2.38. Wesfarmers, the largest employer in Australia, with more than 200,000 employees across the country where official records announced a record net profit of $1.05 billion for 2006, secured the third position adding $1.30 (+3.25%) and closing at $41.30. On the ASX 200 index, Bendigo Bank took the ribbon for the first place and it was followed by Timbercorp, Australia’s leading agribusiness investment manager and which sources, funds, and manages high quality large scale forestry and horticulture projects, seeing 7.3 percent rise or 12 cents and closing at $1.69 by the end of the trading week. Flight Centre, which is a market place for domestic and international travel, secured the third place adding $1.68, increasing 6.54 percent and closing at $27.35.