Fortescue: Best Performing Stock for the Week 46 of 2007

Submitted by Craig Strzelecki on 17 November, 2007 - 12:56

Fortescue was the overall best performing stock taking in a 15.72 percent increase. It was a mixture of metal & mineral, securities services, pharmaceuticals and mining that were among the best performing stocks for the Australian sharemarket for week 46 of 2007: Fortescue Metals (FMG), Computershare (CPU), Sigma Pharmaceutical (SIP), Iluka Resources (ILU). These best performing stocks managed gains over 9.93 percent by the end of the trading week.

Fortescue, a well-positioned company to become the next Australian mineral export heavy-weight and which has a market capitalisation of around $26 billion, took the ribbon for the best performing stock for the ASX 100 index seeing 15.72 percent increase or $7.95 and closing at $58.50. Fortescue was followed by Computershare, a global leader in share registration, employee share plans, proxy solicitation and other specialised financial, governance and communication services, adding 99 cents, increasing 10.52 percent and closing at $10.40. Sigma Pharmaceutical, a leading manufacturer and marketer of prescription, over-the-counter and generic pharmaceutical products, was at the third position adding 15 cents (+9.93%) and closing at $1.66. On the ASX 200 index, Fortescue Metals Group took the pole position. Iluka, a mining company involved in the mining and processing of titanium based and zircon products which has operations in Australia and the US, secured the second position adding 45 cents, increasing 10.97 percent and closing at $4.55. Iluka was followed by Computershare positioning itself at the third place in the best performing stocks for the ASX 200 index. Queensland Gas (QGC), a rapidly-evolving integrated energy business strategically positioned to meet rising demand for its abundant coal seam gas, cleaner power and ample water, was at the forth position seeing 10.27 percent rise or 30 cents and closing at $3.22.