|
| INDEX CODE |
INDEX NAME |
CLOSING PRICE |
WEEKLY MOVE ($) |
WEEKLY MOVE (%) |
| XAO |
All Ordinaries |
3,727.4 |
-279.2 |
-7.0% |
| XJO |
ASX 200 |
3,749.6 |
-301.7 |
-7.4% |
| STOCK CODE |
COMPANY |
CLOSING PRICE |
WEEKLY MOVE ($) |
WEEKLY MOVE (%) |
| AMP |
AMP Limited |
$5.35 |
-$0.09 |
-1.7% |
| ANZ |
ANZ Banking Group Limited |
$13.78 |
-$2.51 |
-15.4% |
| BHP |
BHP Billiton Limited |
$26.40 |
-$1.53 |
-5.5% |
| BXB |
Brambles Limited |
$7.59 |
-$0.81 |
-9.6% |
| CBA |
Commonwealth Bank |
$32.10 |
-$7.97 |
-19.9% |
| CSL |
CSL Limited |
$37.98 |
$1.13 |
3.1% |
| FGL |
Foster's Group |
$5.80 |
-$0.14 |
-2.4% |
| MQG |
Maquarie Group Limited |
$22.73 |
-$7.41 |
-24.6% |
| NAB |
National Aust. Bank |
$ 19.79 |
-$2.36 |
-10.7% |
| NCM |
Newcrest Mining |
$21.04 |
-$0.65 |
-3.0% |
| QBE |
QBE Insurance Group |
$25.95 |
-$1.95 |
-7.0% |
| RIO |
Rio Tinto Limited |
$72.00 |
-$0.27 |
-0.4% |
| SGB |
St George Bank |
$23.20 |
-$5.05 |
-17.9% |
| SUN |
Suncorp - Metway |
$7.20 |
-$1.65 |
-18.6% |
| TLS |
Telstra Corporation |
$4.26 |
-$0.04 |
-0.9% |
| WBC |
Westpac Banking Corp |
$16.80 |
-$4.20 |
-20.0% |
| WDC |
Westfield Group |
$14.50 |
$0.30 |
2.1% |
| WES |
Wesfarmers Limited |
$17.80 |
-$4.70 |
-20.9% |
| WOW |
Woolworths Limited |
$28.28 |
-$0.72 |
-2.5% |
| WPL |
Woodside Petroleum |
$36.90 |
-$2.90 |
-7.3% |
A horrid week for the stock market! It is difficult to describe it any other way. The investment community is perplexed. This week we saw more negativity. The All Ordinaries was sold down sharply shedding 7% while the ASX200 faired even worse falling 7.4%. It is now well below the 4,000 point mark. In fact, the ASX200 closed the week at 3,750; that’s 45.3% lower than this time last year.
The banks were all major loses having been heavily sold down. Macquarie Bank fell almost 25% while CBA and WBC were both down by 20%. ANZ didn’t fair much better; down by 15% for the week and now trading at 1998 prices. Extraordinary!!! NAB emerged as the best performer of the big four although it too was marked down by 10%. Surely the valuations of Australia’s largest banks must be compelling at these distressed levels. They have halved in value over the past 12 months.
Resources managed a stronger week than the banks but were also sold down. Woodside fell 7%, BHP more than 5%, Newcrest shed 3% whilst RIO Tinto managed to be flat for the week off by less than half a percent.
As we approach the end of 2008, investors continue to suffer the tribulations of the equity market. It is pointless attempting to combat the fear that surrounds us. It may be prudent at this stage just to let this giant beast settle down. |
