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These were the worst performing shares on the ASX 200 in November

On Friday the ASX 200 finished November with a disappointing monthly decline of 2.8%.

Yesterday I picked out the three best performing shares on the index here. Not all shares were as lucky as these, with some posting sizeable declines during the month.

The three worst performing shares on the ASX 200 during November were as follows:

The CYBG PLC (ASX: CYB) share price lost 26% of its value in November. The British bank’s shares fell heavily following the release of its full year results. While the result itself was reasonably solid, investors were quick to hit the sell button after the bank provided a bleak outlook for the year ahead. The bank warned that even if a Brexit deal is successfully negotiated, trading conditions are likely to slow significantly in 2019 and 2020 due to a decline in property purchases in the UK market.

The Lendlease Group (ASX: LLC) share price fell a massive 28% during last month. Investors headed to the exits in their droves after the international property and infrastructure company advised that it had identified further underperformance in the financial position of its Engineering and Services division. Because of this, Lendlease now expects to take a provision in the order of $350 million after tax for the first half of FY 2019. The underperformance in its Engineering and Services division was blamed on the further deterioration of a number of projects that it had previously flagged.

The Wesfarmers Ltd (ASX: WES) share price plunged 32% in November to account for the removal of the demerged Coles Group Ltd (ASX: COL) business. Since listing on the ASX the Coles share price has had a rocky time. Coles shares hit the ASX boards and climbed as high as $13.37 during the month. Since then its shares have tumbled over 16% amid concerns that growth may be challenging over the near term. One broker that thinks the Wesfarmers’ share price decline is a buying opportunity is Morgans. It has an add rating and $33.64 price target on its shares. This is 6.5% higher than where they closed last week.

5 Companies we like better than Wesfarmers

When ace stock picker Scott Phillips has a buy recommendation, history suggests it can pay to listen.

Scott recently revealed what he believes are the five best ASX stocks for investors to buy right now… and Wesfarmers wasn’t one of them! That’s right — he thinks these 5 stocks are even better buys.

See the 5 stocks

Motley Fool contributor James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia owns shares of and has recommended Wesfarmers Limited. The Motley Fool Australia owns shares of COLESGROUP DEF SET. 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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