Best Performing Stocks for Week 17 of 2008

Allco Finance (AFG) was the overall best performing stock taking in a 80.61 percent increase. Among the best performing stocks for the week 17 of 2008 on the Australian sharemarket were a mixture of financial services, property management, coal mining: Allco Finance (AFG), Valad Property (VPG), Westpac Banking (WBC), Macarthur Coal (MCC), Felix Resources (FLX). The best performing stocks for the week 17 recorded gains above 10.52 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 on the ASX 100 index seeing remarkable 80.61 percent increase, adding 40 cents and closing at 89 cents. Valad Property, a value adding property group that encompasses funds management, investment, development and property investment banking, came in the second position adding 10 cents, closing at 88 cents and increasing 12.1 percent. Valad Property was followed by Westpac, which has branches and affiliates throughout Australia, New Zealand and the Pacific region and maintains offices in key financial centres around the world including London, New York, Hong Kong and Singapore, adding $2.37 (closing $24.89, +10.52%). On the ASX 200 index, Allco Finance was the best performing stock. Allco Finance was followed by Macarthur Coal, an independent Queensland-based coal mining company with operations in Queensland’s Bowen Basin at our Coppabella, Moorvale and Middlemount mines, seeing 27.61 percent rise, adding $3.59 and closing at $16.59. Felix Resources, an expanding company with a primary focus on the mining of coal and the development and operation of coal related assets, came next in the line adding $2.23 and closing at $14.30 (+18.47%).