Worst Performing Stocks of Week 11

Submitted by Jim Thesiger on 22 March, 2010 - 02:44

Ansell (ANN), an Australia based company that operates in the gloves and other protective product industry was the worst performer in the ASX100 list for the 11th week. The company lost 5.6 percent or 65 cents to its stock price and was closed for the week at $12.18. It was a mixture of utilities, property, investment, insurance and finance management and paper manufacturing companies in the list of worst performing stocks of the Australian Stock Exchange for the 11th week: Ansell (ANN), Harvey Norman Holdings (HVN), ING Office Fund (IOF), AWB Limited (AWB), FKP Property Group (FKP), Paperlinx (PPX). Harvey Norman Holdings (HVN), an Australia based integrated retail and property company that concentrates in franchising and advertising services provision to its homewares, franchisees and electrical goods marketing and sales, consumer finance provision, leasing and property investment was the second worst performer in ASX100 losing 5.1 percent or 20 cents closing the week at $3.67. It was followed by ING Office Fund (IOF), a company that has investments in office buildings in Australia, United States and Europe. The company saw a 4.7 percent or 3 cent drop to its stock price and was closed for the week at 60 cents.

In the ASX200 list, it was AWB Limited (AWB), FKP Property Group (FKP) and Paperlinx (PPX) - who were the top three worst performers of the week. Among them, AWB Limited (AWB), an Australia-based company that offers insurance, commodity risk and finance management services in the regional and rural areas of the country held the first position losing 10.8 percent 12 cents to its stock price and closed the week at 95 cents. FKP Property Group (FKP), a company that concentrates in resorts management, construction and investment, associated infrastructure and retirement villages' management was in the second position in this list losing 9.8 percent 8 cents to is share price and closed for the week at 69 cents. Paperlinx (PPX), a company that is operating in the in communication paper manufacturing and packaging sector was next in the line. The company lost 7 percent or 5 cents to its stock price closing the week at 66 cents.