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ASX Down 5%, Plus Five of The Worst Performers

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The S&P/ASX 200 Index was well and certainly out of type week that is final sank particularly lower. The index that is benchmark 3.9% over the five days in order to complete at 5,927.6 points.

Whilst the most of shares in the index dropped lower, some dropped significantly more than many. Here’s why these were the worst performers on the ASX 200 week that is final

Western Areas Ltd (ASX: WSA)
The Western Areas share cost ended up being the performer that is worst in the index last week having a 20.8% decline. Nearly all this decline arrived regarding the day that is final of week following the nickel producer downgraded its FY 2021 production guidance and increased its costs guidance. Management blamed this on manufacturing problems at its Flying Fox operation.

EML Payments Ltd (ASX: EML)
The EML Payments share price ended up beingn’t far behind and recorded a disappointing 18.4per cent decline within the five days. This has been driven with a mix of weakness in the technology sector and profit taking after having a extremely gain that is strong in the thirty days. The EML Payments share price still ended up recording a 1.7% gain over the of October despite final week’s decline month.

Corporate Travel Management Ltd (ASX: CTD)
The Corporate Travel Management share price had been out of type and tumbled 16.1% lower week that is final. This decline appears to have been caused by its annual general meeting up-date, which unveiled that the travel company averaged revenue of $9.6 million each month through the quarter that is first. As well as this, a spike in COVID-19 cases in North America and Europe put pressure on travel stocks. It was as a result that the journey Centre Travel Group Ltd (ASX: FLT) share cost dropped 15.8per cent reduced within the duration. The S&P/ASX 200 Index was well and certainly out of type week.

Zip Co Ltd (ASX: Z1P)
The Zip Co share price possessed a week that is disappointing lost 15.1% of its value on the five days. The buy now spend later provider’s shares attended under great pressure since the launch of its quarter that is first revision week earlier. Information that Westpac Banking Corp (ASX: WBC) had been selling off its stake has also weighed in investor sentiment this thirty days.

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Billy Houghton

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