Worst Performer of the Week: Bank of Queensland

Submitted by Jim Thesiger on 6 September, 2009 - 18:08

Bank of Queensland (BOQ), a company that operates in the provision of financial, banking and related services in Victoria, New South Wales, Queensland, Northern Territory, ACT and Western Australia was the worst performer in the ASX100 list that lost 8.05 percent or 91 cents to its stock price closing the week at $10.39. It was a mixture of Financial Service, Resource, Property management and Exploration companies in the list of worst performing stocks of the Australian Stock Exchange: Bank of Queensland (BOQ), Centennial Coal Company (CEY), Fortescue Metals Group (FMG), Babcock & Brown Infrastructure Group (BBI), Straits Resources (SRL), Carnarvon Petroleum (CVN). Centennial Coal Company (CEY) the leading independent coal company of Australia which also operates in the international market was the second worst company of the list losing 7.5 percent or 26 cents closing the week at $3.20. Next in the list was Fortescue Metals Group (FMG), a company with concentration on iron ore with a drop of 7.4 percent or 33 cents to its stock price and was closed for the week at $4.11.

In the ASX200 list, it was Babcock & Brown Infrastructure Group (BBI), Straits Resources (SRL) and Carnarvon Petroleum (CVN) - who were the worst performers for the week. With a market capitalisation of $158.1 million, Babcock & Brown Infrastructure Group (BBI), a company that is involved in acquisition, management and operation of quality infrastructure assets both in Australia and in the international market was in the top position with a loss of 22.7 percent or 2 cents to its stock price and was closed for the week at 6 cents. Straits Resources (SRL) a company engaged in the diversified mineral exploring and production industry with primary focus on the acquisition and development of resources like gold, copper and coal was next in the line with a loss of 13.3 percent or 28 cents, closing the week at $1.81. The third position was taken by Carnarvon Petroleum (CVN), an oil and gas exploration, development and production company of Australia with a market capitalsation of $355.5 million. The company lost 13.3 percent or 8 cents and was closed at 52 cents.