MRE

Minara Resources (MRE) was the overall worst performing stock in either f the ASX100 and ASX200 indices taking in a 18.56 percent decrease in their share price on the Australian stock exchange. Although the overall loser on the Australian markets this week goes to Clive Peeters (CPR) which shed 25 percent closing the week at 50 cents.

AED Oil was the overall worst performing stock taking in a 21.14 percent decrease. The technical price chart above is for AED and shows a 10, 100 MA on a candlestick chart, each candle representing 3 trading days. It was a mixture of mining and metal exploration, aviation and resources companies who were among the worst performing stocks for the week 22 of 2008 on the Australian sharemarket: Lihir Gold (LHG), Macquarie Airports (MAP), BHP Billiton (BHP), AED Oil (AED), Minara Resources (MRE), St. Barbara (SBM).

Independence Group (IGO) was the worst performing company on the Australian stockmarket (Loser of the week for week 20 of 2007). The company was also the worst performer on the ASX200 index. The Independence Group share price lost 92 cents or 11 percent and closing the week at $7.40. The loss can be attributed to the fact that the nickel price had dropped. ASX 200 closed the week at 6252.8 and the ALL Ordinaries closed the week on 6273.3.

Other than Coates Hire, other top performers were: Oil producer Santos increased their value by $1.33 or 11.8 percent to close at $12.58. Other big movers this week were from the ASX200 index: Minara closing $8.69, increased by $1.23 or 16.5 percent. Straits Resources (SRL) closed at $4.35, increasing by 54 cents or 14.17 percent. Finally Incitec Pivot closed at $52.75 increasing their company value by $6.48 or 14 percent

Minara Resources (MRE) is the loser of the week (the worst performing company on the Australian sharemarket ASX200 index) for week 1 of 2007. The mining company closed the week at $5.32, losing 55 cents or 9.32 percent. The ASX All Ordinaries closed lower by 1.7 percent from 5644.3 to 5544.8.