The Worst Performing Stocks of the Week 28

Submitted by Jim Thesiger on 12 July, 2009 - 03:16

WorleyParsons (WOR), a company that is engaged in the business of providing engineering project and design related services along with maintenance and reliability support services for diversified industrial segments was the worst performer in the ASX100 index losing 8.9 percent or $2.05 in its stock price and was closed for the week at $20.80. It was a mixture of Engineering, Mining, Exploration and Property Investment companies in the list of the worst performing stocks for the 28th week of 2009: WorleyParsons (WOR), Alumina (AWC), Paladin Energy (PDN), Platinum Australia (PLA), Murchison Metals (MMX), Charter Hall Group (CHC). Alumina (AWC), which mainly focuses on bauxite mining, alumina refining and smelting selected alumina was next in the line with a loss of 7 percent or 10 cents closing the week at $1.32. The third worst performer of the ASX100 list was Paladin Energy (PDN), a company that mainly focuses on acquisition and development of uranium projects in Australia and Africa with a fall of 6.9 percent or 33 cents closing at $4.40.

In the ASX200 index, Platinum Australia (PLA), Murchison Metals (MMX) and Charter Hall Group (CHC) were the three worst performers for this week. Among them, Platinum Australia (PLA), which is a major platinum explorer and developer and operates in PGM projects in Australia and South Africa was the worst performer with a loss of 22.6 percent or 23 cents in its stock price closing the week at 79 cents. Murchison Metals (MMX), a company that is mainly engaged in iron ore exploration and mining business in Western Australia was next in the list with a loss of 16.6 percent or 26 cents and was closed at $1.30. The third place was taken by Charter Hall Group (CHC), a property investment group that invests in specialized unlisted property funds that lost 15.6 percent or 8 cents in the week closing at 43 cents. Another worst performer of the ASX200 index was St Barbara (SBM). The company had a loss of 15.5 percent or 4 cents to its stock price closing the week at 19 cents. Telecommunications company Service Stream was the biggest loser this week losing 23 percent due to a downgrading of its profit which was followed by the resignation of CEO.

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