MFS: Worst Performer for Week Three of 2008

MFS was the overall worst performing stock this week taking on a 72 percent decrease in its share price. Among the worst performing stocks for the past week (week 3 for 2008) on the Australian sharemarket were a mixture of retail, funds management & financial services and mining companies: MFS (MFS), Centro Retail (CER), Centro Properties (CNP), Alumina (AWC), Zinifex (ZFX) and AED Oil (AED). These worst performing stocks for week 3 of 2008 recorded between 9 percent to 44 percent for their loss by the end of the trading week.

MFS, the funds management and financial services company was the overall worst performer taking in a 72 percent decrease and it had a clear gap between the other runners up. Centro Properties took the ribbon for the worst performing stock on the ASX 100 index seeing 44.2 percent fall or 38 cents and closing at 48 cents. Alumina became the second in the list losing 90 cents, closing at $5.33 and a negative move of 14.4 percent. Zinifex was the next in line losing $1.57 (-14.15%) and closing at $9.52. On the ASX 200 index, MFS took pole position decreasing by remarkable 72 percent, losing $2.56 and closing at 99 cents. The first runner up was Centro Retail seeing 47 percent fall or 28 cents and closing at 31 cents. Centro Properties was next in the line. It is quite worth to have a look at other runners up for the ASX 200 index as they recorded significant negative moves in their stocks. AED Oil took fourth position in the list decreasing by 21.6 percent or losing 90 cents and closing at $3.26. Perilya (PEM) was next in the line closing at $1.74 (-$0.42, 19.3%).