BlueScope Steel: Winner of the week

Submitted by Jim Thesiger on 19 July, 2009 - 06:10

BlueScope Steel (BSL), a major investor in the steel industry that focuses in Europe, North America and Asia Pacific was the best performing stocks in ASX100 index for the 29th week that saw a rise of 15.7 percent or 38 cents in its stock price closing the week at $2.80. It was a mixture of Resource, Exploration, Property, Mining and Exploration companies in the list of the best performing companies in the Australian Stock Exchange for the 29th week of 2009: BlueScope Steel (BSL), Fortescue Metals Group (FMG), Alumina (AWC), Macquarie CountryWide Trust (MCW), Sunland Group (SDG), OM Holdings (OMH). Fortescue Metals Group (FMG), an iron ore company that owns considerable amount of iron ore resources was the second best company in ASX100 with a gain of 15.2 percent or 52 cents closing at $3.92. The third place was taken by Alumina (AWC), a company that is engaged in bauxite mining, smelting and refining Alumina with a gain of 15.1 percent or 20 cents closing the week at $1.52. Macquarie CountryWide Trust was the best performer for this week adding 35 percent to its stock price after selling property worth of $1.3 billion in order to diminish debts of the company.

Macquarie CountryWide Trust (MCW), Sunland Group (SDG) and OM Holdings (OMH) were the top three performers in the ASX200 index for the week. Macquarie CountryWide Trust (MCW), an investment trust company that mainly operates in Australia, New Zealand and US and invests in big shopping centers and groceries was the best performing stock among them in the list adding 35.1 percent or 16 cents closing the week at 62 cents. Sunland Group (SDG), a company that is engaged in property development and construction was next in the list that gained 25.2 percent or 15 cents and was closed for the week at 72 cents. OM Holdings (OMH), a globally diversified independent group that focuses on the manganese industry was the third best company in the ASX200 list which added 22.6 percent or 29 cents to its stock price closing at $1.55.