AED Oil: Worst Performer for Week 22 of 2008

Submitted by Share Trading on 1 June, 2008 - 13:14

AED Oil was the overall worst performing stock taking in a 21.14 percent decrease. The technical price chart above is for AED and shows a 10, 100 MA on a candlestick chart, each candle representing 3 trading days. It was a mixture of mining and metal exploration, aviation and resources companies who were among the worst performing stocks for the week 22 of 2008 on the Australian sharemarket: Lihir Gold (LHG), Macquarie Airports (MAP), BHP Billiton (BHP), AED Oil (AED), Minara Resources (MRE), St. Barbara (SBM). These worst performing stocks for the week 22 recorded losses above 8.04 percent by the end of the trading week. The majority of the companies were mining and metal exploration.

Lihir Gold, the owner and developer of the Lihir Island, Papua New Guinea open pit mine and processing facility gold operation, took the ribbon for the worst performing stock on the ASX 100 index seeing 11.05 percent fall or 29 cents and closing at $2.98 by the end of the trading week. Macquarie Airports, one of the world’s largest private airport owners having a market capitalisation of approximately A$6 billion and over 35,000 investors, including some of the world’s largest pension funds, became second in the list losing 29 cents, closing at $2.90 and a negative move of 9.09 percent. Macquarie Airports was followed by BHP Billiton, a global leader in the resources industry which was formed as a merger between BHP and Billiton, losing 8.04 percent or $3.99 and closing at $43.50. On the ASX 200 index, 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, took the pole position decreasing by 21.14 percent, losing 70 cents and closing at $2.61. AED Oil was followed by Minara Resources, Australia's second largest nickel producer, and one of the top ten in the world, seeing 15.50 percent fall or 87 cents and closing at $4.74. St. Barbara was at the third position in the worst performing list closing at 61 cents (-$0.10, -14.08%).