by Jenny Ruth
Monday 1st May 2006
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Commentary for the week ended Friday 28th April, 2006
Further gains in kiwifruit company Seeka's shares boosted the top four performing portfolios while a fall in Australian Property Holdings dragged down all of the 16 worst performing portfolios in the second week of the current game.
Allied Work Force Group, the pick of 20 players, also boosted the top performer while New Image group, chosen by only seven players, dragged down the worst performer.
But the three most popular choices, Contact Energy and the two Fisher & Paykel companies, are all now in positive territory.
Over the week, all the main indicies gained, the Top 50 and Top 15 both advancing 2.6% while the Small Companies Index climbed 1.4%. The Top 50 is now up 1.6% since the current game began, the Top 15 is up 1% and the Small Companies has gained 2.5%.
Seeka shares rose a further 35 cents to $4.15 this week, although the company made no announcements, and have now gained 30% since the game began. In a similar absence of news, Allied Work Force gained 5 cents to $1.50 this week and has risen from $1.35 since the game started.
Australian Property Holdings has lost a whopping 49% since the game began although its losses look small in monetary terms: its shares started the game at 3.9 cents and they are now 2 cents. The company is in the middle of a reverse takeover of biotech company ICP Holdings which expects to break even by the June quarter of 2007.
New Image shed 1.5 cents to 4 cents over the week which yielded no company announcements.
The best performing portfolio is now up 10%, or $4,981, while the worst is down 15%, or $7,801.
Contact shares were boosted by its quarterly operational report showing its average wholesale price for electricity in the March quarter was $115.83 a megawatt hour, up from $55.57 in the same period last year. The power company also said its total generation for the quarter rose 15% to 2,892 gigawatt hours in the quarter. There was no news from the Fisher & Paykel companies.
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