Perilya: Best Performing Stock for the Week 28 of 2008

Submitted by Craig Strzelecki on 12 July, 2008 - 09:33

Perilya (PEM) was the overall best performing stock taking in a 20.96 percent increase. It was a mixture of toll road development, infrastructure services, steel manufacturing, and mining companies who were among the best performing stocks for the week 28 of 2008 of the Australian sharemarket: Transurban Group (TCL), Babcock & Brown Infrastructure (BBI), BlueScope Steel (BSL), Perilya (PEM), Macarthur Coal (MCC). These best performing stocks managed gains above 10.04 percent by the end of the trading week. Another top performer of the Ausie stockmarket this week was GRD which saw its shares jump 27 percent on the week because of an update to their earnings.

Transurban Group (TCL), the company which did not show any impact on the profits flow by the increasing fuel cost, was the best performing stock for the ASX 100 index seeing 13.77 percent increase, adding 61 cents and closing at $5.04. Transurban Group was followed by Babcock & Brown Infrastructure, a specialist infrastructure entity which provides investors access to a diversified portfolio of quality infrastructure assets, adding 8 cents, increasing 11.11 percent and closing at 80 cents. BlueScope Steel, an integrated steelworks, steel rolling, metallic coating, coil prepainting, steel building products manufacturing company, came in the third position adding 98 cents (+10.04%) and closing at $10.47. On the ASX 200 index, 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, was the best performing stock adding 13 cents, increased by 20.96 percent and closing at 75 cents. Macarthur Coal, which got a much-needed boost in share prices after the company raised its full-year profit forecast by as much as 34 percent, came in the second position seeing 18.23 percent raise or $2.66 and closing at $17.25. Macarthur Coal was followed by Transurban Group.