Allco Finance: Worst Performing Stock for Week 12 of 2008

Allco Finance (AFG) was the overall worst performing stock taking in 39% percent decrease. Among the worst performing stocks for the past week (week 12 for 2008) on the Australian sharemarket were a mixture financial services, metal & mining and educational services: Allco Finance (AFG), Fortescue (FMG), ABC Learning (ABS), Macquarie DDR Trust (MDT). These worst performing stocks for week 3 of 2008 recorded higher than 15.4 percent by the end of the trading week.

Allco Finance, a fully integrated global financial services business specialising in asset origination, funds creation, and funds management, was in the pole position for the ASX 100 index seeing 39% fall or 14 cents and closing at 21 cents. Allco Finance was followed by Fortescue, the metal and mineral exports company which has a market share of $21 billion, was the next in the line at closing $6.00 and with a negative move of 19% (-$1.41). ABC Learning, the child care services company was at the third position, losing $0.24 and closing at $1.30 (-15.4%) by the end of the trading week. On the ASX 200 index worst performing stocks, Allco Finance and Fortescue secured first and second places respectively. Macquarie DDR Trust, which aims to give investors secure income and the prospect of capital growth, was in the third position where it secured closing price of $0.45 (-$0.10 -18.2%). When compared the ASX 100 and ASX 200 indices, there were no significant differences between the stock moves. ABC Learning, which was at third place for the ASX 100 index, has been shifted to the sixth place for the ASX 200 index.