Queensland Gas: Best Performing Stocks for the Week 16 of 2008

Submitted by Craig Strzelecki on 19 April, 2008 - 18:22

Queensland Gas (QGC) was the overall best performing stock taking in a 17.54 percent increase. It was a mixture of financial services, Insurance, beef production and forestry, energy, and oil companies who were the best performing stocks for the week 16 of 2008 of the Australian sharemarket: Allco Finance (AFG), Insurance Australia Group (IAG), Futuris Corporation (FCL), Queensland Gas (QGC), AED Oil (AED). These best performing stocks managed gains above 7.6 percent by the end of the trading week.

Allco Finance, a fully integrated global financial services business which has evolved significantly from its origins as a leveraged lease packager and underwriter, was the best performing stock for the ASX 100 index seeing 16.3 percent increase, adding 8 cents and closing at 54 cents. Insurance Australia Group, an international general insurance group, with operations in Australia, New Zealand, the United Kingdom and Asia, came in the second position adding 32 cents, increasing 8.06 percent and closing at $4.29. Insurance Australia Group was followed by Futuris Corporation, a company generates the major share of its income from the Australian rural and primary production sector through rural services, beef production and forestry, secured the third position adding 14 cents (+7.6%) and closing at $1.91. On the ASX 200 index, Queensland Gas, a rapidly-evolving integrated energy business strategically positioned to meet rising demand for its abundant coal seam gas, cleaner power and ample water, was the best performing stock adding 63 cents, increasing 17.54 percent and closing at $4.22. AED Oil, which was established for the purpose of acquiring, developing and commercialising specified oil fields and undertaking oil exploration, with a primary focus on prospects located either in Australia or within Australian territorial waters, came in the second position closing at $2.30 (+$0.33, +16.75%). AED Oil was followed by Allco Finance securing third position of the ASX 200 index.