GPT Group

GPT Group’s (GPT) plan to split up its troubled listed property trust’s $6 billion worth of toxic Babcock & Brown joint venture might face resistance from some of the key investors as a large number of fund managers of property security who has invested money in the oldest property trust of Australia will not be able to own stocks in an unlisted trust.

David Jones (DJS), a company that operates departmental stores in Australia and provides diversified range of both local and international brands was the best performer in Australian Stock Exchange ASX100 adding 7.1 percent or 30 cents in its stock price closing the week at $4.48.

GPT Group (GPT) also known as General Property Trust, the largest diversified property trust in Australia was the best performer in the ASX100 index adding 19.5 percent or 8 cents in its stock price closing at 49 cents.

GPT Group was the overall worst performing stock taking in a 36.58 percent decrease. Among the worst performing stocks for the week 28 of 2008 on the Australian sharemarket were a mixture of real estate business and property management companies: GPT Group (GPT), Mirvac Group (MGR), Stockland (SGP), Macquarie DDR Trust (MDT). These worst performing stocks for week 28 of 2008 recorded losses above 17.39 percent and all of these companies were real estate companies.

Felix Resources was the overall worst performing stock taking in a 20.07 percent decrease in their share price. Among the worst performing stocks for the week 26 of 2008 of the Australian sharemarket were a mixture of property management, agribusiness, mining, utility infrastructure services: Valad Property (VPG), GPT Group (GPT), Futuris Corporation (FCL), Felix Resources (FLX), Spark Infrastructure (SKI), Great Southern (GTP). These worst performing stocks for week 26 of 2008 recorded losses above 14.44 percent by the end of the trading week.