Worst Stock Performers for Week 23 of 2008

Submitted by Craig Strzelecki on 8 June, 2008 - 18:10

Minara Resources (MRE) was the overall worst performing stock in either f the ASX100 and ASX200 indices taking in a 18.56 percent decrease in their share price on the Australian stock exchange. Although the overall loser on the Australian markets this week goes to Clive Peeters (CPR) which shed 25 percent closing the week at 50 cents. Among the worst performing stocks for the week 23 of 2008 of the Australian sharemarket were a mixture of education services, financial services, retail, mining and energy: ABC Learning (ABS), Allco Finance (AFG), Centro Properties (CNP), Minara Resources (MRE), Queensland Gas (QGC), Perilya (PEM). These worst performing stocks for week 23 of 2008 recorded losses above 10.52 percent by the end of the trading week.

ABC Learning, which focuses on providing high quality, affordable care and education for families, was the worst performing stock for the ASX 100 index seeing 12.33 percent fall or losing 19 cents and closing at $1.35. ABC Learning was followed by Allco Finance, a fully integrated global financial services business and has evolved significantly from its origins as a leveraged lease packager and underwriter, closing at 39 cents and losing 5 cents (-11.36%). Centro Properties, a retail investment organisation specialising in the ownership, management and development of retail shopping centres, came in the third position for the worst performing list for the ASX 100 index seeing 10.52 percent fall or 4 cents and closing at 34 cents. On the ASX 200 index, Minara Resources, Australia's second largest nickel producer, and one of the top ten in the world, was the worst performing stock seeing 18.56 percent fall or 88 cents and closing at $3.86. 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, came in the second position closing at $5.04 and losing $1.09 (-17.78%). Queensland Gas was followed by Perilya, a leading Australian base metals mining and exploration company and is in the top 20 of global producers for zinc and the top 10 for lead production, closing at 65 cents (-$0.14, -17.19%).