Worst Australian Stock Performers for Week 6 of 2008

Submitted by Share Trading on 4 February, 2008 - 15:48

AED Oil was the overall worst performing Australian stock taking in a 31.9 percent decrease in its stock price this week. Among the worst performing stocks for the week 6 of 2008 on the Australian sharemarket were a mixture of property & funds management, metals mining, financial services and oil: Valad Property (VPG), Zinifex (ZFX), Challenger Financial Services Group (CGF), AED Oil (AED), IOOF Holdings (IFL). These worst performing stocks for week 3 of 2008 recorded losses above 13.5 percent by the end of the trading week. Financial services companies were dominating both the ASX 100 index and the ASX 200 index in the worst performing stocks list.

Valad Property, property group that encompasses funds management, investment, development and property investment banking was the worst performer for the ASX 100 index seeing 18.4 percent fall or losing 23 cents and closing at $1.00 by the end of the trading week. Zinifex, the leading provider of Zinc and Lead for Australian market came in the second position closing at $9.34 and losing $1.68 (-15.2%). Challenger Financial Services Group was next in line seeing 13.5% fall, losing 49 cents and closing at $3.13. On the ASX 200 index, AED Oil was in the pole position for worst performing stocks for the past week closing at $1.53 and losing 72 cents (-31.9%). AED Oil was followed by IOOF Holdings losing $1.49 (close $5.70, -20.7%). Valad Property came in the third for the ASX 200 index of worst performing stock. It is worthwhile to mention stock performance of Futuris (FCL) and Mincor (MCR) as they came to positions of sixth and seventh places respectively of the ASX 200 index.