Last week the S&P/ASX 200 Index (ASX: XJO) was back on form and raced notably higher. The benchmark index gained 85 points or 1.3% to end the period at 6,800.4 points.
Unfortunately, not all shares climbed higher with the market. Here's why these were the worst performers on the ASX 200 last week:
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Whitehaven Coal Ltd (ASX: WHC)
The Whitehaven Coal share price was the worst performer on the ASX 200 last week with a 10.6% decline. This may have been driven by a combination of profit taking after a strong gain last week and concerns about the outlook for coal. The latter follows an update by BHP Group Ltd (ASX: BHP) which revealed that it expects to record an impairment charge of between US$1.15 billion and US$1.25 billion post tax in relation to its New South Wales Energy Coal (NSWEC) asset.
Unibail-Rodamco-Westfield CDI (ASX: URW)
The Unibail-Rodamco-Westfield share price wasn't far behind with a 10.2% decline. The only news out of the shopping centre operator last week related to an asset sale. Unibail-Rodamco-Westfield announced the disposal of its SHiFT office building in Paris for 620 million euros.
Alumina Limited (ASX: AWC)
The Alumina share price was out of form last week and dropped 6.3% lower over the five days. This could have been driven by a broker note out of Macquarie. Its analysts have retained their underperform rating and $1.50 price target on the alumina company's shares following its quarterly update. The broker fears energy costs and foreign exchange headwinds could weigh on its performance in 2021.
Premier Investments Limited (ASX: PMV)
The Premier Investments share price dropped a disappointing 6% over the week. This decline means the retail conglomerate's shares have now given back all their year to date gains and more. Investors may have been selling shares amid concerns that they are overvalued based on its future earnings. Premier Investments has been tipped to deliver a bumper profit result this year, but is widely expected to then report a meaningful decline in its earnings in FY 2022.
