Energy Resources of Australia: The Best Performer for Week 3 of 2008

Energy Resources of Australia (ERA) was the overall best performing stock taking in a 13.9 percent increase of its share price. Among the best performing companies for the past week (week 3 of 2008) on the Australian sharemarket were a mixture of engineering, energy, industrial, mining and transportation: Sims Group (SGM), Energy Resources of Australia (ERA), Futuris Corp (FCL), Downer EDI (DOW), Toll Holdings (TOL). All the above best performing stocks for week 3 stocks managed more than 6 percent and less than 11 percent gain at the end of the trading week.

Sims Group, the reputed engineering consulting company was the best performing stock securing the first place in ASX 100 seeing an 11 percent rise or 2 dollars and 72 cents and closing at $27.47. Futuris Corp was at the silver position adding 18 cents, increased by 8.4 percent and closing at $2.32. The second runner up was Downer EDI, the mining, transportation and engineering company increasing by 39 cents (close $5.56, +7.5%). Third runner up on the ASX 100 index was Toll Holdings, Australia’s largest Logistics and Transportation solution provider with revenues over $1.3 billion per year, adding 64 cents, increased by 6.3 percent and closing at $10.79. Energy Resources of Australia, the exporter of Uranium Oxide to fuel nuclear electricity utilities was leading ASX 200 index adding 2 dollars and 50 scents, increased by 13.9 percent and closing at $20.50. Sims Group was at the second position for the ASX 200 index. Emeco Holdings (EHL), which is selling, renting and maintaining heavy moving equipment to customers in the mining industry in Australia and overseas, was at the next in the line increasing by 9 cents (+8.7%) and closing the trading week at $1.06.