Losers of the Week

Submitted by Jim Thesiger on 13 September, 2009 - 16:04

Consolidated Media Holdings (CMJ), a company that focuses in the gaming, entertaining, television broadcasting, magazine publishing and distributing, subscription television, investment in internet and other sectors was the worst performer in the ASX100 list that lost 9.8 percent or 33 cents to its stock price closing the week at $3.02. It was a mixture of Media, Utilities, Service, Infrastructure and Exploration companies in the list of worst performing stocks of the Australian Stock Exchange: Consolidated Media Holdings (CMJ), Billabong International (BBG), Ansell (ANN), Elders (ELD), Babcock & Brown Infrastructure Group (BBI), Sundance Resources (SDL). Billabong International (BBG) a company that operates in the skate, snow and surf apparel and accessories manufacturing and distributing industry was the second worst company of the list losing 4.9 percent or 53 cents closing at $10.24. Next in the list was Ansell (ANN), an Australia based company that operates in the gloves and other protective product industry with key business activities like development, manufacturing, sourcing, distribution and marketing of the products mainly at Americas, Europe and the Asia Pacific with a drop of 4 percent or 39 cents to its stock price and was closed for the week at $9.15.

In the ASX200 list, it was Elders (ELD), Babcock & Brown Infrastructure Group (BBI) and Sundance Resources (SDL) - who were the worst performers for the week. Elders (ELD), an Australia based rural and regional company that offers financial services and farm inputs for the farmers of Australia and New Zealand with a market capitalisation of $192.5 million was in the top position with a loss of 39.7 percent or 16 cents to its stock price and was closed for the week at 24 cents. With $137.4 million worth of market capitalisation, Babcock & Brown Infrastructure Group (BBI), which focuses in acquisition, management and operation of quality infrastructure assets in the global market and in Australia was next in the list with a loss of 13.1 percent or 1 cent, closing the week at 5 cents. The third position was taken by Sundance Resources (SDL), a Company that focuses on iron ore, copper, gold and other base metal exploration with key asset located in Mbalam - Republic of Cameroon of central West Africa. The company with a market capitalsation of $348.5 million lost 10.8 percent or 2 cents and was closed at 17 cents.