Australian Markets, Winners & Losers

National Bank of Australia is planning to offer a counter bids on St. George. The Chief Executive of NAB commented that his bank is looking at options to run numbers on St George bank takeover. "We look at all opportunities and in due course we will look at this transaction, but just now we're literally on the sidelines watching with interest what is happening," said Mr. Stewart at the National Press Club lunch in Canberra.

The global media conglomerate reported a healthy third quarter profits. Most of the profits have been attributed to the growth in advertising revenue at Fox News and Fox Channel that pertain to its broadcasting and newspaper assets.

Allco Finance (AFG) was the best performer in the sharemarket taking in a 113% increase in their share price for the week. Among the best performing stocks for the past trading week (week 13 of 2008) on the Australian sharemarket were a mixture of finance and real estate: Allco Finance (AFG), ING Office (IOF), Valad Property (VPG), Transfield Services (TSE), Platinum Asset (PTM). These best performing stocks for week 13 of 2008 recorded gains above 11.4 percent by the end of the trading week.

Energy Resources of Australia (ERA) was the worst performer with a negative move of 18.2%. Among the worst performing stocks for the past trading week (week 13 for 2008) on the Australian sharemarket were a mixture of child care services, mining, energy and financial services: ABC Learning (ABS), Lihir Gold (LHG), Fortescue (FMG), Energy Resources Of Australia (ERA), Macquarie DDR Trust (MDT). These worst performing stocks for week 13 of 2008 were ranged from 13.8 percent to 18.2 percent in their losses.

Corporate Express (CXP) was the overall best performing shares taking in a 15.2 percent increase. Among the best performing companies for the past week (week 12 of 2008) on the Australian sharemarket were a mixture of financial service, business services and property investment: St George (SGB), AMP (AMP), QBE Insurance (QBE), Corporate Express (CXP), Abacus Properties (ABP). All the above best performing stocks for week12 managed more than 10 percent. Four of six best performing stock being financial institutions were the highlight of the trading week.

Allco Finance (AFG) was the overall worst performing stock taking in 39% percent decrease. Among the worst performing stocks for the past week (week 12 for 2008) on the Australian sharemarket were a mixture financial services, metal & mining and educational services: Allco Finance (AFG), Fortescue (FMG), ABC Learning (ABS), Macquarie DDR Trust (MDT). These worst performing stocks for week 3 of 2008 recorded higher than 15.4 percent by the end of the trading week.

Riversdale (RIV) was the overall best performing shares on the Australian sharemarket taking in a 19.4 percent increase. Among the best performing companies for the past week (week 10 of 2008) on the Australian sharemarket were a mixture of mining and chemical: Incitec Pivot (IPL), Dyno Noble (DXL), Newcrest (NCM), Riversdale (RIV), Western Areas (WSA), Energy Resources of Australia (ERA). Five out of best six performing stocks for indices were mining companies and it was the highlight of the trading week. This clearly indicates the progress achieved by Australian mining companies.

City Pacific was the overall worst performing stock taking in a 60 percent decrease. It has been noted that for the past week (week 10 of 2008), majority of worst performing stocks on the Australian sharemarket was financial services providers and it’s an indication of the fall of the sector. Allco Finance (AFG), ABC Learning (ABS), Centro Properties (CNP), Asciano Group (AIO) and City Pacific (CIY) were among the worst performing stocks. Also, there moves were significant ranging from 29.9 percent to 60.2 percent.

Perilya (PEM) was the overall best performing stock taking in a 18.9 percent increase in its share price this week. It was a mixture of metal mining, engineering and logistics companies who were among the best performing stocks for the week 8 of 2008 on the Australian stockmarket: Downer EDI (DOW), Oxiana (OXR), CSL (CSL), Perilya (PEM), Boom Logistics (BOL) and Kagara (KZL). These best performing stocks for week 8 of 2008 managed gains above 12 percent by the end of the trading week.

Centro Properties (CNP) was the overall worst performing stock taking in 18.8 percent decrease in its stock price. Among the worst performing stocks for the week 8 of 2008 on the Australian sharemarket were a mixture of retail investments, child care services and mining: Centro Properties (CNP), ABC Learning (ABS), Macquarie Office (MOF), Iluka Resources (ILU), Centro Retail (CER). These worst performing stocks for week 8 of 2008 recorded losses above 11.9 percent by the end of the trading week.