Bradken: Loser for the Week 50 of 2007

Submitted by Share Trading on 15 December, 2007 - 15:47

Bradken (BKN) was the overall worst performing stock taking in a 40 percent drop in its share price. Among the worst performing stocks for the week 50 of 2008 on the Australian sharemarket were a mixture of commercial explosives, mining, steel and crop protection: Dyno Noble (DXL), Zinifex (ZFX), Boart Longyear (BLY), Bradken (BKN), Nufarm (NUF). These top 6 worst performing stocks for week 50 recorded losses above 10 percent by the end of the trading week. The overall worst performing stock, Bradken had a significant gap between the next highest worst performing stock.

Dyno Noble, a global leader in the commercial and explosives industry with over 3,500 employees including some of the most highly trained blasters in the industry, was the worst performer for the ASX 100 index seeing 15.3 percent fall or losing 38 cents and closing at $2.10 by the end of the trading week. Zinifex, a mining, exploration and development company focusing on base metals projects in Australia and other international locations, came in the second position closing at $14.05 and losing $1.70 (-10.7%). Zinifex was followed by Boart Longyear, a trusted partner and global leader in providing world-class drilling services and products to customers, was next in line seeing 10.1% fall, losing 25 cents and closing at $2.21. On the ASX 200 index, Bradken, the leading supplier of differentiated consumable products to the resources and freight rail industries, was in the pole position for worst performing stocks closing at $8.86 and losing $5.39 (-40%). Bradken was followed by Dyno Noble securing second position. Nufarm, the only manufacturer of crop protection products in Australia with an extensive network of Regional Service Centres, came in the third for the ASX 200 index of worst performing stock closing at $14.30 (-$2.42, -14.4%).