TIM

Gunns (GNS), the Tasmanian timber company has recently joined the bidding to gain control over failed Timbercorp’s (TIM) forestry assets. A conditional proposal was submitted by Gunns to KordaMentha- the liquidator of Timbercorp regarding it. The future of the proposal depends on getting finance as well as join venture partner.

Bendigo Bank was the overall best performing stock taking in a 15.41 percent increase. Among the best performing companies for the past week (week 47 of 2007) on the Australian sharemarket was a mixture of financial services, retail, farming, agribusiness and travelling: Bendigo Bank (BEN), CFS Retail (CFX), Wesfarmers (WES), Timbercorp (TIM), Flight Centre (FLT). These best performing stocks for week 47 managed gains above 3.25 percent by the end of the trading week.

AGL Energy (AGK) was the overall worst performing stock taking in a 4.4 percent decrease. Among the worst performing stocks for the week 41 of 2007 of the Australian sharemarket were a mixture of energy, pharmaceuticals and newspaper: AGL Energy (AGK), Sigma Pharmaceutical (SIP), WA Newspapers (WAN). These worst performing stocks recorded losses higher than 4.22 percent by the end of the trading week. Both the ASX 100 index and the ASX 200 index had the same companies in the top three positions for the worst performing stocks.

Timbercorp (TIM) was the worst performing company on the ASX 200 index (Loser of the week, week 40 of 2007). The timber company lost 12.2 percent or 23 cents closing the week at $1.66. The Australian dollar closed the week at US88.90 cents, gold at 736.35, All Ordinaries at 6617.3 and ASX 200 at 6605.4. Timbercorp was previously a loser of the week in February this year.

Timbercorp (TIM) was the overall worst performing stock taking in a 12.16 percent decrease. It was a mixture of energy, consumer products, hearing solutions and agribusiness companies who were among the worst performing stocks for the week 40 of 2007 on the Australian sharemarket: Paladin Energy (PDN), Goodman Fielder (GFF), Cochlear (COH), Timbercorp (TIM). These worst performing stocks for the week 40 recorded losses above 5.69 percent by the end of the trading week.

Timbercorp (TIM) took the title for the worst performing stock this week on the Australian sharemarket (Loser of the week for week 19 of 2007) falling 8 percent after posting some disappointing half-year results.

Besides Timbercorp (TIM) losing 8 percent, other non-performing stocks this week were:
On the ASX100 indices, Newcrest (NCM) lost 60cents or 2.632 percent closing at $22.20 and on the ASX200 indeces Monadelphous Group (MND) lost 0.58 cents in value or 4.158 percent closing the week at $13.37. The All Ordinaries index closed at 6319.7 and the ASX200 index closed at 6312.5.

Timbercorp (TIM) is the loser of the week (the worst performing company on the Australian sharemarket ASX200 index) for week 6 of 2007. Timbercorp, a finance and investment company, closed the week at $2.03, losing 8 cents or 28.3 percent. The All Ordinaries index closed the week at 5899.3, up 2 percent from 5814.4 last week, while the ASX200 index closed at higher at 5927.2 from last week's close of 5831.5.