Babcock & Brown Power (BBP): Worst Performer for Week 21 of 2008

Submitted by Craig Strzelecki on 24 May, 2008 - 18:22

Babcock & Brown Power (BBP) was the overall worst performing stock taking in a 41.58 percent decrease. It was a mixture of funds and asset management, financial services, property investment, power, and nickel sulphide production companies who were among the worst performing stocks for the week 21 of 2008 on the Australian sharemarket: Babcock & Brown (BNB), Macquarie Group (MQG), Valad Property (VPG), Babcock & Brown Power (BBP), Sally Malay (SMY). The worst performing stocks for the week 21 recorded losses above 10.95 percent by the end of the trading week.

Babcock & Brown, an international investment and specialised fund and asset management group with longstanding capabilities in the creation, syndication and management of asset and cash flow-based investments, was the worst performing stock on the ASX 100 index seeing 18.30 percent fall or $2.85 and closing at $12.72. Macquarie Group, a diversified international provider of banking, financial, advisory and investment services, headquartered in Sydney, came in the second position losing $7.90, closing at $58.40 and a negative move of 11.91 percent. Macquarie Group was followed by Valad Property, a value adding property group that encompasses funds management, investment, development and property investment banking, losing 10.95 percent or 12 cents and closing at 98 cents. On the ASX 200 index, Babcock & Brown Power, a power generation business, with assets diversified by geographic location, fuel source, customers, contract types and operating mode, was the worst performing stock decreasing by 41.58 percent, losing 84 cents and closing at $1.18. Babcock & Brown Power was followed by Babcock & Brown Group. Sally Malay, an established Western Australian nickel sulphide producer with two profitable underground mines; the Sally Malay Project 120 kilometres north of Halls Creek in The Kimberley and the Lanfranchi Project 42 kilometres south of Kambalda, was at the third position seeing 14.55 percent decrease, losing 86 cents and closing at $5.05.