Worst Australian Stock Performers for Week 8 of 2008

Centro Properties (CNP) was the overall worst performing stock taking in 18.8 percent decrease in its stock price. Among the worst performing stocks for the week 8 of 2008 on the Australian sharemarket were a mixture of retail investments, child care services and mining: Centro Properties (CNP), ABC Learning (ABS), Macquarie Office (MOF), Iluka Resources (ILU), Centro Retail (CER). These worst performing stocks for week 8 of 2008 recorded losses above 11.9 percent by the end of the trading week. Retail and property services companies were dominating both the ASX 100 index and the ASX 200 index in the worst performing stock list.

Centro Properties, a retail investment organisation specialising in the ownership, management and development of retail shopping centres was the worst performer for the ASX 100 index seeing 18.8 percent fall or losing 12 cents and closing at $0.50 by the end of the trading week. ABC Larning, the child care services company came in the second position closing at $3.77 and losing 51 cents (-11.9%). Macquarie Office, which aims to provide unit holders with superior total returns and a secure income stream, was next in line seeing 11.9% fall, losing 14 cents and closing at $1.04. On the ASX 200 index, Centro Properties was in the pole position for worst performing stocks. Centro Properties was followed by Iluka Resources, a mining company involved in the mining and processing of titanium based and zircon products which has operations in Australia and the US, losing 73 cents (close $3.72, -16.4%). Centro Retail came in the third for the ASX 200 index of worst performing stock closing at 33 cents (-$0.05, -12.1%).