Best Performing Shares for week 12 of 2008

Submitted by Share Trading on 22 March, 2008 - 13:32

Corporate Express (CXP) was the overall best performing shares taking in a 15.2 percent increase. Among the best performing companies for the past week (week 12 of 2008) on the Australian sharemarket were a mixture of financial service, business services and property investment: St George (SGB), AMP (AMP), QBE Insurance (QBE), Corporate Express (CXP), Abacus Properties (ABP). All the above best performing stocks for week12 managed more than 10 percent. Four of six best performing stock being financial institutions were the highlight of the trading week.

St George, the fifth largest bank in Australia which has a market share of 7.5% was the best performing stock securing the first place in the ASX 100 index seeing an 12.6 percent rise or 2 dollars and 93 cents and closing at $26.10. AMP was at the second position adding 77 cents, increased by 11.2 percent and closing at $7.62. The second runner up was QBE Insurance increasing by $.25 (close $23.00, +10.8%). On the ASX 200 index, Corporate Express, the business service provider for variety of aspects who changed the trading name in April 2007, secured first place seeing 15.2 percent increase, adding 79 cents and closing at 5.99 at the end of the trading week. Corporate Express was followed by Abacus Properties adding 15 cents, increasing 13.5% and closing at $1.26. The third position was secured by St George in the ASX 200 index. St George was followed by Hastings Div (HDF), a company Invests in high-yield securities, becoming the fourth of best performing stock in the ASX 200 index closing at $2.35 and adding 24 cents (+11.3).