Bradken
Here is an update on the Australian Mining Services Sector provided by Australian market analyst UBS.
Energy Boom – The Beneficiaries!
Bradken (BKN) was the overall worst performing stock taking in a 40 percent drop in its share price. Among the worst performing stocks for the week 50 of 2008 on the Australian sharemarket were a mixture of commercial explosives, mining, steel and crop protection: Dyno Noble (DXL), Zinifex (ZFX), Boart Longyear (BLY), Bradken (BKN), Nufarm (NUF). These top 6 worst performing stocks for week 50 recorded losses above 10 percent by the end of the trading week. The overall worst performing stock, Bradken had a significant gap between the next highest worst performing stock.
Credit Suisse have rated the Bradken (BKN) stock with an Outperform rating with a sare price target of $7.00. The result was in line with expectations. The stockbroker has a positive view on the stock as a result of the solid result and guidance.
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Top 50 Public Companies Listed on the Australian Stockmarket as at 18/07/2008
- BHP Billiton
- Commonwealth Bank of Australia (CBA)
- Rio Tinto
- National Australia Bank (NAB)
- Telstra (TLS)
- News Corporation or NewsCorp (NWS)
- Westpac Banking Corporation (WBC)
- Woodside Petroleum Limited (WPL)
- ANZ
- Woolworths Limited (WOW)
- Westfield Group (WDC)
- Westfarmers Limited (WES)
- Fortescue Metals (FMG)
- CSL
- QBE Insurance
- St. George Bank Limited (SGB
- Newcrest Mining Limited (NCM
- Origin Energy Limited (ORG)
- Maquarie Group (MQG)
- AMP Limited (AMP)
- Leighton Holdings (LEI)
- Suncorp-Metway Limited (SUN)
- Brambles Limited (BXB)
- Santos Limited (STO)
- Coal & Allied (CNA)
- Incitec Pivot (IPL)
- Foster’s Group Limited (FGL)
- Orica Limited (ORI)
- BlueScope (BSL)
- AXA Asia Pacific Holdings Limited (AXA)
- Woodside Petroleum Limited (WPL)
- Insurance Australia Group Limited (IAG)
- Stockland (SGP)
- Lihir Gold Limited (LGL)
- Qantas Airways Limited (QAN)
- Oxiana Limited (OXR)
- Sims Group Limited (SGM)
- AGL Energy Limited (AGK)
- OneSteel Limited (OST)
- Transurban Group (TCL)
- Oil Search Limited (OSH)
- Coca-Cola Amatil Limited (CCL)
- Crown (CWN)
- Alumina (AWC)
- ASX (Australian Securities Exchange)
- Macquarie Infrastructure Group (MIG)
- Telecom Corporation of New Zealand (TEL)
- Computershare Limited (CPU)
- Aneka Tambang (Persero) TBK (ATM)
- Tabcorp Holdings (TAH)