Best Performers for Week 10 of 2008 - Mining Companies

Submitted by Share Trading on 8 March, 2008 - 12:40

Riversdale (RIV) was the overall best performing shares on the Australian sharemarket taking in a 19.4 percent increase. Among the best performing companies for the past week (week 10 of 2008) on the Australian sharemarket were a mixture of mining and chemical: Incitec Pivot (IPL), Dyno Noble (DXL), Newcrest (NCM), Riversdale (RIV), Western Areas (WSA), Energy Resources of Australia (ERA). Five out of best six performing stocks for indices were mining companies and it was the highlight of the trading week. This clearly indicates the progress achieved by Australian mining companies.

Incitec Pivot, a chemical manufacturer supplying agricultural fertilisers and industrial chemicals for Australian and overseas markets was the best performing stock securing the first place in ASX 100 seeing an 6.7 percent rise or 10 dollars and closing at $158.00. Dyno Noble, the mining and exploring company was at the second position adding 13 cents, increased by 5.6 percent and closing at $2.43. The second runner up was Newcrest, a leading international gold company and one of the world's lowest cost gold producers increasing by $2.05 (close $40.09, +5.3%). On the ASX 200 index, Riversdale, another mining company secured the first place seeing 19.4 percent increase, adding $1.36 and closing at $8.36. Riversdale was followed by Western Areas, closing at $6.67 and adding 67 cents (+11.1%). Energy Resources of Australia, the exporter of Uranium Oxide to fuel nuclear electricity utilities was at third position of ASX 200 index adding 2 dollars and 28 scents, increased by 10.5 percent and closing at $23.80. Sino Gold (SGX) was the next in the line closing at $8.35 (+$0.65, +8.4%).