These were the worst-performing shares on the ASX 200 last week

The Flight Centre Travel Group Ltd (ASX:FLT) share price and the Resolute Mining Limited (ASX:RSG) share price were amongst the worst performers on the ASX 200 last week…

| More on:
a woman

You’re reading a free article with opinions that may differ from The Motley Fool’s Premium Investing Services. Become a Motley Fool member today to get instant access to our top analyst recommendations, in-depth research, investing resources, and more. Learn More

The S&P/ASX 200 index bounced back from a selloff a week earlier and recorded a gain of 1.4% last week to finish it at 6606.8 points.

Unfortunately, not all shares climbed higher last week. Here's why these were the worst performers on the S&P/ASX 200 index over the period:

The Flight Centre Travel Group Ltd (ASX: FLT) share price was the worst performer on the index last week with a 10.5% decline. Investors were selling the travel company's shares last week after it released a trading update at the Morgans Queensland event. Although the travel agent reported TTV growth across the business, it warned that its first half profits will be down on the prior corresponding period. Full year profit guidance will be provided at next month's AGM.

The Resolute Mining Limited (ASX: RSG) share price wasn't far behind with a decline of 10.4% last week. The gold miner's shares crashed lower after it reported issues at its Syama Gold Mine in Mali. According to the release, Resolute has taken its roaster offline after detecting a crack in the main external shell. The roaster is a key component of the sulphide processing circuit at the Syama Gold Mine. The next step for management will be to assess the damage once the roaster has cooled. After which, it intends to investigate and advise the market of the impact to its full year production.

The Speedcast International Ltd (ASX: SDA) share price was out of form last week and recorded a 9.7% decline. With no news out of the company, this decline appears to be a case of profit taking after a strong share price gain in September. The shares of the provider of remote communications and IT services rocketed 58.1% higher in September. This was probably down to bargain hunters swooping in after a very sharp decline in August.

The Harvey Norman Holdings Limited (ASX: HVN) share price tumbled 7.6% lower last week. The majority of this decline can be attributed to the retailer's shares trading ex-dividend for its 21 cents per share fully franked final dividend. Eligible shareholders can now look forward to receiving this payout in their nominated bank accounts on November 1.

Motley Fool contributor James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia owns shares of and has recommended Flight Centre Travel Group Limited. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

More on Share Fallers

A woman with short brown hair and wearing a yellow top looks at the camera with a puzzled and shocked look on her face as the Westpac share price goes down for no reason today
Share Fallers

Why Clearview, NAB, Resolute Mining, and Westpac shares are dropping today

These shares are under pressure today. But why?

Read more »

A man looking at his laptop and thinking.
Bank Shares

Why is the Bendigo Bank share price tanking today?

There are a few things that could be driving this bank lower today.

Read more »

Three guys in shirts and ties give the thumbs down.
Share Fallers

Why Bellevue, Domain, Skycity, and Wildcat shares are tumbling today

These shares are having a tough time on hump day. But why?

Read more »

Person with thumbs down and a red sad face poster covering the face.
Share Fallers

Why Domino's, Lynas, Paladin Energy, and St Barbara shares are sinking today

These shares are having a tough session. What's going on?

Read more »

A male investor wearing a blue shirt looks off to the side with a miffed look on his face as the share price declines.
Share Fallers

Why Amcor, Boss Energy, Brickworks, and Mineral Resources shares are tumbling today

These shares are starting the week in the red. But why?

Read more »

Person with thumbs down and a red sad face poster covering the face.
Share Fallers

The worst 3 ASX 200 stocks to buy and hold in October unmasked

You would have done well to avoid these three ASX 200 stocks in October.

Read more »

A man sits in despair at his computer with his hands either side of his head, staring into the screen with a pained and anguished look on his face, in a home office setting.
Share Fallers

Why AFT, Amcor, Corporate Travel, and Macquarie shares are falling today

These shares are ending the week in the red. But why?

Read more »

A male investor wearing a blue shirt looks off to the side with a miffed look on his face as the share price declines.
Share Fallers

Why AGL, Imugene, Star, and Woolworths shares are dropping today

These shares are dropping on Thursday. Let's see why investors are selling them.

Read more »