These were the worst performing ASX 200 shares last week

ASX shares downgrade A young woman with tattoos puts both thumbs down and scrunches her face with the bad news.

The S&P/ASX 200 Index (ASX: XJO) was on form and recorded its first weekly gain in over a month. The benchmark index rose 1.9% to end the period at 7,320.1 points.

Unfortunately, not all shares were able to follow the market higher. Here’s why these were the worst performers on the ASX 200 last week:

EML Payments Ltd (ASX: EML)

The EML Payments share price was the worst performer on the ASX 200 last week with a 15.7% decline. The catalyst for this was the release of an update on regulatory action by the Central Bank of Ireland (CBI). The CBI revealed that it is planning to take action against EML’s PFS Card Services (Ireland) business. While no financial details have been provided by EML, it warned that the potential directions “could materially impact the European operations of the Prepaid Financial Services (PFS) business.”

Nanosonics Ltd (ASX: NAN)

The Nanosonics share price was the next worst performer with a 6.3% decline over the five days. This was despite there being no news out of the infection prevention company. This latest decline means the Nanosonics share price has now lost almost a third of its value in 2021.

Fisher & Paykel Healthcare Corp Ltd (ASX: FPH)

The Fisher & Paykel Healthcare share price wasn’t far behind with a decline of 5.9%. This is despite the company announcing the launch of its new Evora Full sleep apnoea mask. A broker note out of UBS may have offset this news. Its analysts were pleased with the launch of a new mask, which is in line with current industry trends. However, UBS continues to believe its shares are overvalued at the current level and retained its sell rating and NZ$22.65 (A$21.50) price target.

Mesoblast limited (ASX: MSB)

The Mesoblast share price was out of form and dropped 5.8% last week. This means the biotechnology company’s shares have now lost 54% of their value since this time last year. While there was no news out of Mesoblast last week, concerns over its precarious balance sheet have been weighing on its shares this year. Unless it has significant trial success, there are fears the company will have to raise funds yet again.

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

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. owns shares of and has recommended EML Payments and Nanosonics Limited. The Motley Fool Australia owns shares of and has recommended EML Payments and Nanosonics Limited. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

from The Motley Fool Australia https://ift.tt/3annOIE

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Google photo

You are commenting using your Google account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s