City Pacific

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.

Henderson Group (HDI) was the overall worst performing stock taking in a 20.19 percent decrease. It was a mixture of energy, securities management, asset management, steel and financial services who were among the worst performing stocks for the week 42 of 2007 on the Australian sharemarket: AGL Energy (AGK), Computershare (CPU), BlueScope Steel (BSL), Henderson Cdi (HGI), City Pacific (CIY). Financial services providers were the majority of the worst performing stocks for the past week.

Among the worst performing stocks last week (week 42) on the Australian sharemarket were Commander Communications (CDR), AGL Energy (AGK), Henderson CDI (HGI) and City Pacific (CIY). The overall worst performer was Commander Communications losing 29 percent upon their relisting on the sharemarket. AGL Energy was the worst performer on the ASX100 index and lost 16.5% or $2.58 closing at $13.05. Henederson CDI was the loser for the ASX 200 index and saw their stock value plummet by 20.2% or $1.02, closing at $4.01. Finally City Pacific lost 10.9% or 47 cents closing at $3.84.