Best Performing Stocks for the Week 24 of 2008

Submitted by Craig Strzelecki on 14 June, 2008 - 12:46

Spotless Group (SPT) was the overall best performing stock taking in a 18.21 percent increase. Among the best performing stocks for the week 24 of 2008 on the Australian sharemarket was a mixture of toll road development, oil and gas exploration, retail services, mineral and mining: Transurban Group (TLC), Woodside Petroleum (WPL), Santos (STO), Spotless Group (SPT), JB Hi-Fi (JBH), Mincor Resources (MCR). These top gainers for the week 24 managed above 6.79 percent by the end of the trading week.

Transurban Group, an international toll road developer and manager with a market capitalisation of more than A$7 billion / US$6.4 billion, was the best performing stock on the ASX 100 index seeing 10.67 percent increase, adding 54 cents and closing at $5.60. Woodside Petroleum, one of Australia’s top ten companies by market capitalisation, and the nation’s largest publicly-traded oil and gas exploration and production company, came in the second position adding $4.37, closing at $63.00 and increasing 7.45 percent. Woodside Petroleum was followed by Santos, Australia's largest domestic gas provider who supplies sales gas to all mainland Australian states and territories and ethane to Sydney, adding $1.40 and closing at $22.00 (+6.79%). On the ASX 200 index, Spotless Group, which operates across Australia and New Zealand, employing more than 28,000 employees who work in government, was the best performing stock adding 53 cents, increasing 18.21 percent and closing at $3.44. JB Hi-Fi, which is an online store for Hi-Fi products and having a chain of stores operating nationwide, secured the second position seeing 12.92 percent rise, adding $1.26 and closing at $11.01. JB Hi-Fi was followed by Mincor Resources, which operates six nickel mines in the Kambalda District of Western Australia, and has two more currently under construction, adding 33 cents and closing at $3.28 (+11.18%).