Although it ended the week on a disappointing note, the S&P/ASX 200 (Index: ^AXJO) (ASX: XJO) still managed to carve out a weekly gain of 3.6% to 6,071.5 points.
This is the biggest weekly percentage gain that the benchmark index has made in over two years.
Not all shares were able to follow the market higher, though. Unfortunately for the shareholders of the shares listed below, they were the worst performers on the ASX 200 last week.
The Domain Holdings Australia Ltd (ASX: DHG) share price was the worst performer on the benchmark index last week with a 13.5% decline. A good portion of this decline came on Friday after the release of the half year results from rival REA Group Limited (ASX: REA). Although the realestate.com.au operator delivered a 20% lift in profits, it warned that the Federal election was likely to hit listing volumes and revenue in the second half. Investors appear concerned that Domain's poor start to FY 2019 may get even worse as the year goes on.
The Beach Energy Ltd (ASX: BPT) share price was the next worst performer last week with a decline of almost 10%. The entirety of this decline came on Friday when its shares were heavily sold off following a drop in the oil price due to trade war concerns. Though, it is unclear why Beach's shares fell by 10% when rivals Oil Search Limited (ASX: OSH) and Santos Ltd (ASX: STO) dropped 3.5% and 4.5%, respectively.
The Resolute Mining Limited (ASX: RSG) share price dropped 8.5% last week. It looks as though profit taking after a positive run and a pullback in the gold price were the catalysts for this decline. Resolute wasn't the only gold miner falling heavily last week. The S&P/ASX All Ords Gold index fell 2.6% during the period as the positive investor sentiment weighed on risk-off asset prices.
The Pilbara Minerals Ltd (ASX: PLS) share price continued its slide and dropped 7% over the period. Investors have been selling off the lithium miners after the price of the white metal fell heavily in the final quarter of 2018 and continued doing so in 2019. Last week Mineral Resources Limited (ASX: MIN) revealed that the sale price for 6% spodumene concentrate shipments from its Mt Marion operation for the March 2019 quarter will be US$791.84 per dry metric tonne. This is a decline of approximately 15% from the US$930.80 per dry metric tonne it averaged during the quarter ended December 31.
