It was a mixed week for the S&P/ASX 200 index. But a strong finish led to the benchmark index recording a 27.4 points or 0.4% weekly gain to end at 6739.7 points.
Not all shares were able to follow the market higher, though. Here's why these were the worst performers on the ASX 200 last week:
The Regis Resources Limited (ASX: RRL) share price was the worst performer on the index with a decline of 10.4%. A combination of positive trade war developments and Boris Johnson's UK election victory put pressure on risk off assets. Regis Resources wasn't the only gold miner tumbling lower last week. The Evolution Mining Ltd (ASX: EVN) share price dropped 9.25% over the period as well.
The Estia Health Ltd (ASX: EHE) share price was out of form last week and fell 9.4%. The catalyst for this was a disappointing trading update out of the aged care provider. Estia Health advised that its occupancy rate fell to 93.5% at the end of November. This is down from 94.1% at the end of August. Management warned that it doesn't expect things to improve quickly due to the negative impact of the Royal Commission on public sentiment. It expects FY 2020 EBITDA on mature homes to come in between $78 million to $82 million.
The Collins Foods Ltd (ASX: CKF) share price fell a disappointing 7.7% over the period. The quick service restaurant operator's shares tumbled lower despite there being no news out of it. However, with its shares up significantly this year, I suspect that profit taking could have been weighing on its shares last week. Even after its decline, Collins Foods shares are up 44% since the start of the year.
The Viva Energy Group Ltd (ASX: VEA) share price wasn't far behind with a 7.5% decline. The fuel retailer's shares were sold off after it provided its guidance for FY 2019. Viva Energy warned that profits could fall by upwards of 41% to between $135 million and $165 million. Although sales volumes have been solid, oil price volatility and heightened competition have negatively impacted its retail margins.
