These were the worst performing ASX 200 shares last week

These ASX 200 shares had bad weeks…
The post These were the worst performing ASX 200 shares last week appeared first on The Motley Fool Australia. –

The S&P/ASX 200 Index (ASX: XJO) was on form last week and recorded a solid gain. The benchmark index rose 0.7% or 53.5 points to end the period at 7,415.5 points.

Unfortunately, not all shares were able to climb with the market. Here’s why these were the worst performing ASX 200 shares last week:

Whitehaven Coal Ltd (ASX: WHC)

The Whitehaven Coal share price was the worst performer on the ASX 200 last week with a decline of 11.1%. This appears to have been driven by a pullback in coal prices. This follows reports in China that coal producers in the country have agreed to observe a price ceiling for thermal coal ahead of the winter heating season.

Flight Centre Travel Group Ltd (ASX: FLT)

The Flight Centre share price wasn’t far behind with a decline of 10.1% over the five days. Investors were selling the travel agent’s shares following the release of a trading update at its annual general meeting. Flight Centre revealed that its sales reached 27% of pre-COVID levels globally during September, which is still well short of making its operations breakeven. In response to the update, Goldman Sachs commented: “Overall, while the outlook remains positive and corporate progress is encouraging, the update remained lacklustre on leisure.” Flight Centre also raised $400 million via a convertible notes offering.

Mineral Resources Limited (ASX: MIN)

The Mineral Resources share price was out of form and dropped 9.2% last week. This was despite there being no news out of the mining and mining services company. Though, investors have been selling its shares in recent months due to its exposure to falling low grade iron ore prices. In addition, the team at Ord Minnett held firm with their hold rating but trimmed their price target on the company’s shares to $50.00 last week.

Alumina Limited (ASX: AWC)

The Alumina share price was a poor performer and tumbled 8.4% over the period. Last week analysts at Credit Suisse downgraded the alumina producer’s shares to a neutral rating with a price target of $1.90. Credit Suisse doesn’t believe current alumina prices are sustainable and feels its shares expensive at current levels.

The post These were the worst performing ASX 200 shares last week appeared first on The Motley Fool Australia.

Wondering where you should invest $1,000 right now?

When investing expert Scott Phillips has a stock tip, it can pay to listen. After all, the flagship Motley Fool Share Advisor newsletter he has run for more than eight years has provided thousands of paying members with stock picks that have doubled, tripled or even more.*

Scott just revealed what he believes could be the five best ASX stocks for investors to buy right now. These stocks are trading at near dirt-cheap prices and Scott thinks they could be great buys right now.

*Returns as of August 16th 2021

More reading

These were the best performing ASX 200 shares last week

Here are the top 10 ASX shares today

Which ASX 200 dividend shares have investors been heavily trading this week?

These 3 ASX 200 shares are topping the volume charts this Friday

Qantas (ASX:QAN) share price soars to 52-week high on international travel update

Motley Fool contributor James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has recommended Flight Centre Travel Group Limited. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

Trade The World Anywhere & Anytime!

Mobile app platform with over 50,000 global listed securities across 12 markets (over 70% global market capitalisation), right from your Android or iOS device.

Integrated with exclusive trading idea and investment analysis tools to help you find actionable insight on virtually every financial instrument across our 12 global markets, to help you optimise your trading strategies.

Refer Your Friends

Tell your friends about Monex and gift them FREE access to our trading tools.

We respect your privacy and will only send this one email notification to your friends. 

Share With Your Friends

Share on facebook
Share on twitter
Share on linkedin

Monex Trading Tools Access and Usage Terms

The Monex Trading Tools (referred to as ‘tools’ hereafter) are available to you inside your client portal;

To activate access to the tools, you must have a verified and approved trading account and have made a deposit of at least AUD $1000.

An active and funded account with a positive trading balance is required to continue to have access to the tools;

Although the tools are available to you indefinitely, Monex Securities may at it’s discretion disable access to the tools in the future;

Monex securities reserves the right to change these terms and conditions from time to time, as it sees fit, without notice.

Important Notice
iOS & Android App - 12 International Markets & Over 70% Global Market Cap. $0 Brokerage On US Trades. Click Here!