Murchison Metals (MMX) Worst Performer of Week 25, 2009

Submitted by Craig Strzelecki on 20 June, 2009 - 19:40

Murchison Metals (MMX) - one of the leading iron ore exploration companies in Australia was the worst performing stock in ASX 200 on week 25. The company lost 23.4 percent or 51 cents on the share market. Some other worst performing stocks of this list were Gloucester Coal (GCL), Kagara Zinc (KZL), Paper Linx (PPX), ING Industrial Fund (IIF) and Paladin Energy (PDN). Gloucester Coal lost 23.4 percent or 1.5 dollar, Kagara have seen a loss of 20 cents or 22.2 percent, PaperLinx went down for 12 cents or 21 percent, ING industrial lost 6 cents or 18.6 percent and Paladin energy experienced a 97 cents or 18.2 percent loss. Centennial Coal Company (CEY), Challenger Financial Services Group (CGF), Mount Gibson Iron (MGX) and Rio Tinto (RIO) stocks were also among the top 10 ten worst performers. Among them Centennial Coal had 17.1 percent, Challenger Financial Services Group Ltd 17.1 percent, Mount Gibson Iron 16.8 percent and Rio Tinto had seen16.7 percent loss.

In ASX 100, Paladin Energy (PDN)- a uranium production company that operates in Australia and Africa was the worst performer with 97 cents or 18.2 percent loss followed by Centennial Coal Company (CEY) losing 52 cents or 17.1 percent, Rio Tinto (RIO) with a loss of 10.1 dollars or 16.7 percent, Macquarie Office Trust (MOF) with 4 cents or 16 percent loss, lluka Resource (ILU) losing 57 cents or 15.6 percent, Alumina (AWC) with a decrease of 24 cents or 14.3 percent and Boart Longyear (BLY) with a fall of 4 cents or 14.2 percent. Some other stocks among the top ten worst performers in ASX 100 were Elders (ELD), Stockland Trust Management (SGP) and Insitec Pivot (IPL) with 13.3, 12.9 and 12.2 percent loss respectively. Paladin Energy, Rio Tinto and Centennial Coal were among the top 10 poor performing stocks in both ASX 100 and ASX 200.