The Worst Performing Stocks of the Week

Submitted by Jim Thesiger on 29 May, 2010 - 15:27

Gunns (GNS), a fully integrated hardwood forest products company which concentrates on milling, timber processing and merchandising, building and hardware supplies merchandising and building contractors was the worst performer in the ASX200 list for the week. The company had a market capitalisation of $282.4 million and lost 27.8 percent to its stock price and was closed for the week at 35 cents. Its stocks were traded at 49 cents during the last week. For this week, it was a mixture of hardwood, mining, diagnostics service, utility and project management companies in the list of worst performing stocks of ASX: Gunns (GNS), Macmahon Holdings (MAH), Sonic Healthcare Limited (SHL), Boart Longyear (BLY), Ausenco (AAX). Macmahon Holdings (MAH), one of the leading civil construction and contract mining companies with specialisation in surface and underground mining, civil engineering, quarrying and processing, and equipment hiring was the second worst performer in ASX200 losing 24.2 percent and closing the week at 50 cents (market capitalisation $366.9 million). Last week, Macmahon shares closed trading at 66 cents. It was followed by Sonic Healthcare Limited (SHL), a renowned Australia based pathology and radiology service provider that also offers administrative services and facilities to medical practitioners, patients community health services and hospitals. The company saw a 23.4 percent drop to its stock price and was closed for the week at $10.07 (market capitalisation $3911.5 million). Stocks of this company were traded at $13.15 during the last week. Next in the line was Boart Longyear (BLY) that offers drilling products and services to energy, infrastructure, environmental, mining and mineral industries. The company lost 22.3 percent to its stock price and was closed for the week at $2.69 (market capitalisation $1240.5 million). These stocks were traded at $3.46 during the earlier week. The fifth place was taken by Ausenco (AAX), a company that operates in the engineering and project management facilities to the minerals processing and mining industries worldwide. The company saw a 21.9 percent drop to its stock price and was closed for the week at $3.36 (market capitalisation $411.1 million). Its stocks were traded at $4.30 during the last week.

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