In September last year I looked at the 52 week share price highs and lows for a range of well know stocks trading on the ASX. As luck would have it, a few days later Lehman Brothers went under and stock markets around the world tumbled. But now that the dust has settled (I hope), it might be interesting to go back and look at these companies and see what has happened to their stock prices since September 2008.
My idea behind looking at the 52 week prices for these stocks is to allow me to get a “feel” for where money is flowing in the stock market in terms of which types of stocks people may be buying and also if stocks are generally in favour or out of favour. I think everybody would agree that over the last 12 months or so stocks have been pretty heavily sold off and therefore at this point in time what I am looking for are the faintest signs that investors are once again buying shares. I am not trying to suggest that any of the stocks below should be bought or traded.
If you wish to check the 52 week high/low prices for these stocks back when I first looked at them in September you can find them here in the archive.
52 Week Stock Prices Highs/Lows (as of 27th March 2009)
Commonwealth Bank (CBA) High – $46.69 Low – $20.03
National Australia Bank (NAB) High – $34.68 Low – $15.85
Westpac Banking Corp (WBC) High – $26.25 Low – $14.40
ANZ Banking Group (ANZ) High – $24.28 Low – $11.83
Macquarie Group (MQG) High – $67.20 Low – $15.00
Babcock and Brown (BNB) High – $16.60 Low – $0.14 (not trading)
Investment Management/Wealth Management
Platinum Asset Management (PTM) High – $5.20 Low – $2.60
Wilson Investment Fund (WIL) High – $0.88 Low – $0.41
Perpetual Limited (PPT) High – $62.64 Low – $21.60
Consumer and Domestic Economy
Goodman Fielder (GFF) High – $1.94 Low – $0.93
Domino’s Pizza (DMP) High – $3.70 Low – $2.50
Virgin Blue Holdings (VBA) High – $1.28 Low – $0.15
Telstra Corporation (TLS) High – $4.86 Low – $2.93
Woolworths Limited (WOW) High – $30.97 Low – $22.85
Fairfax Media (FXJ) High – $3.39 Low – $0.80
BHP Billiton (BHP) High – $50.00 Low – $20.00
Australand Property Group (ALZ) High – $1.55 Low – $0.19
I think if we look at the information above we can make a few observations:
- The big four banks have certainly had their share prices savaged but they are all still standing without the need of any government bailouts. Although these banks have tested new 52 week lows since September they do appear to be currently staging a fightback. The investment banks have fared much worse with Macquarie Group hitting a low of $15 and Babcock & Brown now in the hands of administrators.
- Companies that are exposed to mainly the domestic economy have been a bit of a mixed bag. Domino’s has done relatively well, Woolworths has held up okay (I guess people want their pizza’s and groceries even in a downturn) but Telstra has been thumped (thanks for nothing Sol), VBA is struggling and Fairfax Media has been trending down for months.
- BHP has been moving up and down largely in response to changes in the global economic outlook as you would expect.
- Australand pretty much reflects the state of most Listed Property Trusts (LPT’s) at the moment, they are all having a very hard time and their stock prices continue to struggle. It is difficult to imagine a turnaround in this sector until the global financial system starts to look lively again.
Most of the stocks above hit new lows during the last 6 months which to be honest I did not expect to happen, but the market is full of surprises these days; sadly most are not very pleasant. On a positive note most stocks are trending upwards of late thanks to a bit of an improvement in world markets over the last week…perhaps this be a sign that the fortunes of the stock market are on the rise? I suspect we will find out the answer to this question in April.
Finally please take into account that I have grouped the stocks in this article into categories that reflects broadly where they sit in the economy but it is still just a list of stocks, it is not meant to be a portfolio or act as some overall index by which stock market performance can be measured. It is just simply a group of stocks I watch. However if you feel I should pop in a few more companies or have any other suggestions then please feel free leave a comment.