Top Losers of the Week

Submitted by Jim Thesiger on 9 May, 2010 - 20:51

Energy Resources of Australia (ERA), one of the major producers of Uranium of the international market was the worst performer in the ASX200 list for the 14th week. The company had a market capitalisation of $3376.1 million and lost 9.3 percent to its stock price and was closed for the week at $17.70. The ERA stocks were traded at $19.51 during the last week. For this week, the list of worst performing stocks of the Australian Stock Exchange was dominated by resources, financial service and air transportation based companies: Energy Resources of Australia (ERA), Alumina (AWC), Karoon Gas Australia (KAR), Elders (ELD), Virgin Blue Holdings (VBA). Alumina (AWC), which mainly concentrates on alumina refining, bauxite mining and smelting selected alumina was the second worst performer in ASX200 losing 9.1 percent and closing the week at $1.69 (market capitalisation $4123.9 million). Last week, Alumina shares closed trading at $1.86. It was followed by Karoon Gas Australia (KAR), a company engaged in exploration, identification and development of oil and gas reserves. The company saw an 8.6 percent drop to its stock price and was closed for the week at $7.54 (market capitalisation 1338.7 million). Its stocks were traded at $8.25 during the last week. Next in the line was Elders (ELD), an Australia based rural and regional company that provides financial services and farm inputs for the farmers in Australia and New Zealand. The company lost 8 percent to its stock price and was closed for the week at $1.27 (market capitalisation $567.5 million). These stocks were traded at $1.38 during the earlier week. The fifth place was taken by Virgin Blue Holdings (VBA) a company that provides airline travel services with concentration on the Australian routes. Virgin saw a 7.7 percent drop to its stock price and was closed for the week at 66 cents (market capitalisation $1447.0 million). Its stocks were traded at 71 cents during the last week.

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