Macarthur Coal

Perilya (PEM) was the overall best performing stock taking in a 20.96 percent increase. It was a mixture of toll road development, infrastructure services, steel manufacturing, and mining companies who were among the best performing stocks for the week 28 of 2008 of the Australian sharemarket: Transurban Group (TCL), Babcock & Brown Infrastructure (BBI), BlueScope Steel (BSL), Perilya (PEM), Macarthur Coal (MCC). These best performing stocks managed gains above 10.04 percent by the end of the trading week.

Arcelor Mittal, headed by steel billionaire Laxmi Mittal, is the world’s largest steel maker by volume, acquired 14.9 percent in Macarthur Coal (MCC) which shook up the possible takeover bid of the coal miner. Ken Talbot decided to split his majority shareholding and allowed Mittal’s company, Arcelor Mittal, to acquire stake in his company. He agreed to sell his 9.1 million shares that accounts to nearly 20 percent of his stake in the company to ArcelorMittal at $19.96 per share. The price offered by Arcelor Mittal was an 8.5% premium to Mararthur Coal’s last trade.

Allco Finance (AFG) was the overall best performing stock taking in a 80.61 percent increase. Among the best performing stocks for the week 17 of 2008 on the Australian sharemarket were a mixture of financial services, property management, coal mining: Allco Finance (AFG), Valad Property (VPG), Westpac Banking (WBC), Macarthur Coal (MCC), Felix Resources (FLX). The best performing stocks for the week 17 recorded gains above 10.52 percent by the end of the trading week.

Macarthur Coal (MCC) was the overall best performing stock taking in a 19.54 percent increase. Among the best performing companies for the past week (week 41 of 2007) on the Australian sharemarket were a mixture of chemical manufacturing, communication services, aviation, coal mining, metal and transportation: Incitec Pivot (IPL), Telstra Corporation (TLS), Qantas (QAN), Macarthur Coal (MCC), Mt. Gibson Iron (MGX), Cabcharge Australia (CAB). These best performing stocks for week 41 managed more than 5.48 percent gain by the end of the trading week.

Karoon Gas, Incitec Pivot and Macarthur Coal were the best performing stocks in their respective categories on the Australian sharemarket for week 41. Karoon Gas (KAR) was the overall winner of the week, shooting up 64 percent on the back of a broker's recommendation which said the company was worth between $20 to $40: the energy company closed the week at $3.70. The winner of the week for the ASX 100 index was Incitec Pivot (IPL) which managed to increase its value by 8.114 percent or $6.71 and closing the trading week at $89.41. On the other hand, ASX 200 winner Macarthur Coal (MCC) managed to put on 19.55 percent of value for its shareholders, or $1.21 closing at $7.40. Other notable gainers of the week were: Mt Gibson Iron ($2.45, increase of 11.36%); Cabcharge Australia ($11.05, increase of 11.17%), Aquarius Platinum ($41.32, increase of 9.6%) and Centro Retail ($1.71, increase of 8.9%). The Australian dollar at Friday close of business was US89.73 cents, gold was $747, All Ordinaries closed the week at 6760.1 and the ASX200 closed at 6748.9. Incitec Pivot was a previous winner of the week. Karoon Gas was also a previous winner. Read a previous recommendation for Macarthur Coal.