Top 3 Losing Stocks of This Week

Submitted by Jim Thesiger on 28 February, 2010 - 02:24

Toll Holdings (TOL), a company that offers various types of services including full load express and economy freight forwarding service was the worst performer of the ASX100 list for the 7th week of 2010. The company had a market capitalisation of $4755.6 million and lost 18.1 percent or $1.51 to its stock price and was closed for the week at $6.80. It was a mixture of service, insurance, media, merchandising and resource oriented companies in the list of worst performing stocks for ASX100 and AX200 for this week: Toll Holdings (TOL), QBE Insurance (QBE), Fairfax Media (FXJ), Gunns (GNS), Eastern Star Gas (ESG). QBE Insurance (QBE), an institution that runs operations in 44 countries and concentrates in activities like underwriting general and reinsurance risks, investment management and management of the economic entity's share of the NSW and Victorian workers' compensation scheme was the second worst company in ASX100. The company lost 8.3 percent or $1.95 to its stock price closing the week at $21.40. Next in the line was Fairfax Media (FXJ), which is the biggest and one of the leading newspaper publishing groups of Australia. The company saw a 7.5 percent or 14 cent drop to its share price and was closed for the week at $1.65.

In the ASX200 list, it was Gunns (GNS), Toll Holdings (TOL) and Eastern Star Gas (ESG) - who had the worst performing stocks of the week. Gunns (GNS), a fully integrated hardwood forest products company that concentrates on milling, timber processing and merchandising, building and hardware supplies merchandising and building contractors was in the top position in this list with a loss of 35.2 percent or 31 cents to its stock price and was closed for the week at 57 cents (market capitalisation $459.8 million). Toll Holdings (TOL) was placed at the second position in this list. It was followed by Eastern Star Gas (ESG), a conventional and coalbed methane gas explorer and producer which has operations mainly in New South Wales and Victoria. It lost 12.5 percent or 10 cents to its stock price closing the week at 67 cents. The company had a market capitalisation of $575.4 million.

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