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NS S & P / ASX200 Index (ASX: XJO) performed well last week and recorded solid growth. The Benchmark Index rose 0.7% or 53.5 points to the end of the term at 7,415.5 points.
Unfortunately, not all stocks have been able to rise in the market. Here’s why these were the worst performing ASX200 shares last week:
Whitehaven Coal Ltd (ASX: WHC)
Whitehaven Coal’s share price fell 11.1%, showing the worst performance on the ASX 200 last week. This seems to have been caused by the reduction in coal prices.This continues Report in China Domestic coal producers have agreed to comply with steam coal price caps prior to the winter heating season.
Flight Center Travel Group Co., Ltd. (ASX: FLT)
Flight Center shares fell 10.1% in five days, not too late.Investors were selling shares in travel agencies after the release of Latest information on transactions at the annual meeting.. Flight Center announced that September sales reached 27% of pre-COVID levels, but still haven’t reached the break-even point. In response to the update, Goldman Sachs commented: Flight Center has also raised $ 400 million through the provision of convertible bonds.
Mineral Resources Limited (ASX: MIN)
Stock prices for mineral resources are out of shape, falling 9.2% last week. This was despite the lack of news from mining and mining service companies. However, investors have been selling their shares in recent months as they are exposed to falling iron ore prices. In addition, the Ord Minnett team, despite strong hold ratings, lowered its share price target to $ 50.00 last week.
Alumina’s share price fell 8.4% during the period due to poor performance. Credit Suisse analysts downgraded a stock of alumina producers to a neutral rating last week with a price target of $ 1.90. Credit Suisse does not believe that current alumina prices are sustainable and feels that the stock is expensive at current levels.
These were the worst performing ASX200 strains last week on October 23, 2021
Source link These were the worst performing ASX200 strains last week on October 23, 2021