The Worst Performer of the Week

Submitted by Jim Thesiger on 5 October, 2009 - 00:38

Gunns (GNS), a completely integrated hardwood forest products company with a key concentration on milling, timber processing and merchandising, building and hardware supplies merchandising and building contractors was the worst performer in the Australian Stock Exchange for the week. Gunns lost 11.7 percent to its stock price closing the week at $1.17. The company closed at $1.33 in the week earlier. The market capitalisation of the company was $901.2 million. It was a mixture of Merchandising and Exploration companies in the list of worst performing stocks of the Australian Stock Exchange: Gunns (GNS), Energy World Corporation (EWC), Molopo Australia (MPO). Energy World Corporation (EWC), an exploration company which focuses on Australia and Indonesia for exploration, exploitation and production for oil and gas with a market capitalisation of $671.3 million was the second worst performing company of the list that saw a 11.3 percent drop to its stock price closing at 43 cents. Next in the list was Molopo Australia (MPO), an oil and gas exploration company. Molopo had a market capitalisation of $213.9 million. The company lost 11.0 percent to its stock price and was closed for the week at $1.17. Two other companies of the list were Mirabela Nickel (MBN) and Nexus Energy (NXS). Mirabela lost 10.3 percent to its stock price while Nexus saw a 10.1 percent drop.