Last week was a positive one for the S&P/ASX 200 Index (ASX: XJO). A strong finish on Friday led to the index recording a 0.25% gain to end the period at 5404.8 points.
Not all shares were able to climb higher with the market last week. Here’s why these were the worst performing ASX 200 shares:
The Corporate Travel Management Ltd (ASX: CTD) share price was the worst performer on the ASX 200 last week with an 11.8% decline. This weakness appears to have been driven by concerns that travel markets may not recover for some time. Last week the International Air Transport Association (IATA) warned that the impact of the pandemic on air travel was likely to be felt for many years to come. The IATA estimates that passenger traffic won’t rebound to pre-crisis levels until at least 2023.
The Challenger Ltd (ASX: CGF) share price was out of form last week and fell 10.9%. This was despite there being no news out of the annuities company. Investors appear concerned that Challenger may continue to struggle in the current environment. Its shares are down around 60% from the 52-week high they reached in February.
The Unibail-Rodamco-Westfield (ASX: URW) share price wasn’t far behind with a 10.4% decline last week. The shopping centre operator’s shares fell to an all-time low during the week amid concerns over the impact the pandemic is having on its operations. The majority of the company’s shopping centres have been forced to close due to lockdowns.
The Jumbo Interactive Ltd (ASX: JIN) share price was a poor performer with a 9.8% decline last week. This decline appears to have been driven by profit taking after some strong gains over the last couple of months. Prior to last week, the online lottery ticket seller’s shares were up 88% from their lows in March. Jumbo’s shares are still down 57% from their 52-week high.
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Returns as of 7/4/2020
More reading
- Why Qantas, Webjet and these ASX travel shares are dropping lower today
- Why Boral, Corporate Travel Management, United Malt, & Xero are dropping lower
- These ASX 200 shares just crashed to multi-year lows
- ASX 200 down 0.9%: Xero posts strong growth & Australian economy loses 594,300 jobs
- Are ASX travel shares like Qantas great value?
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 recommends Jumbo Interactive Limited. The Motley Fool Australia owns shares of and has recommended Challenger Limited and Corporate Travel Management Limited. The Motley Fool Australia has recommended Jumbo Interactive 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.
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