AED Oil: Winner for Week 7 of 2008

Among the best performing stocks for the week 7 of 2008 on the Australian sharemarket were a mixture of mining, oil & gas and real estate: Paladin Energy (PDN), Alumina (AWC), Woodside Petroleum (WPL), Australian Energy Development Oil (AED), Tishman Speyer (TSO). These best performing stocks for week 7 of 2008 managed gains above 11 percent by the end of the trading week. Energy services companies were dominating both the ASX 100 index and the ASX 200 index for the best performing stock list.

Paladin Energy, one of the largest uranium exporters having operations in Australia and Africa was the best performing stock on the ASX 100 index, seeing 21.4 percent increase, adding $1.05 and closing at $5.95. Alumina, the global alumina business company came in the second position adding 92 cents, closing at $5.94 and increasing 18.3%. Alumina was followed by Woodside, Australia’s largest publicly traded oil and gas exploration and production company, adding $5.00 (closing at $ 49.85, +11.1%). On the ASX 200 index, AED Oil, which was established for acquiring, developing and commercializing specified oil fields, secured the first place adding 63 cents, increasing 40.9% and closing at $2.15 at the and of the trading week. Tishman Speyer came next in the line seeing 22.6% rise, adding 29 cents and closing at $1.57. Tishman Speyer was followed by Paladin Energy securing third position of the list. Alumina was at the fourth position and Sally Malay (SMY) secured the fifth position closing at $4.39 adding 54 cents (+14%).