These were the worst performing ASX 200 shares last week

These ASX 200 shares sank deep into the red last week…

| More on:
A woman sits with her hands covering her eyes while lifting her spectacles sitting at a computer on a desk in an office setting.

Image source: Getty Images

The S&P/ASX 200 Index (ASX: XJO) has just completed a very strong week. The benchmark index rose 1.8% over the five days to finish the week at 7,456.9 points.

Unfortunately, not all shares climbed with the market. Here’s why these were the worst performers on the ASX 200 last week:

Virgin Money UK (ASX: VUK)

The Virgin Money share price was the worst performer on the ASX 200 last week with a 13.7% decline. Investors were selling the UK-based bank’s shares following the release of its full year update. Virgin Money advised that it expects to report a 546% increase in underlying profit before tax to 801 million pounds. However, disappointing the market, the bank revealed that it will incur 275 million pounds in restructuring costs over the next three years. This was approximately double what the market was expecting.

Domino’s Pizza Enterprises Ltd (ASX: DMP)

The Domino’s share price was a close second with a decline of just under 13.7% last week. The catalyst for this was the pizza chain operator’s trading update at its annual general meeting. That update revealed a severe deterioration in the performance of the Domino’s Japan business once COVID restrictions lifted in the country. As a result, management warned that it can no longer forecast whether FY 2022 Japan sales and earnings would surpass those recorded in FY 2021. This appears to have sparked fears that other markets could follow suit.

Westpac Banking Corp (ASX: WBC)

The Westpac share price was a very disappointing performer last week, recording a sizeable 12.2% decline. Investors were selling the banking giant’s shares following the release of its full year results. Although Australia’s oldest bank doubled its cash earnings in FY 2021, this was still a touch short of expectations. In addition, a smaller than expected share buyback and a weak net interest margin outlook weighed on sentiment. It was largely because of the latter that Goldman Sachs downgraded the bank’s shares to a neutral rating with a $25.60 price target.

Beach Energy Ltd (ASX: BPT)

The Beach Energy share price was out of form and tumbled 8.2% last week. The catalyst for this was the surprise announcement of the departure of its Chief Executive. Beach advised that Managing Director and CEO Matt Kay had tendered his resignation to the company’s board. The release explains that Kay is leaving to pursue other professional opportunities.

Wondering where you should invest $1,000 right now?

When investing expert Scott Phillips has a stock tip, it can pay to listen. After all, the flagship Motley Fool Share Advisor newsletter he has run for over ten years has provided thousands of paying members with stock picks that have doubled, tripled or even more.*

Scott just revealed what he believes could be the five best ASX stocks for investors to buy right now. These stocks are trading at near dirt-cheap prices and Scott thinks they could be great buys right now.

*Returns as of January 12th 2022

Motley Fool contributor James Mickleboro owns shares of Westpac Banking Corporation. The Motley Fool Australia's parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has recommended Dominos Pizza Enterprises Limited. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

More on Share Fallers

Person with thumbs down and a red sad face poster covering the face.
Share Fallers

These were the worst performing ASX 200 shares last week

These ASX 200 shares were out of form last week...

Read more »

Red arrow going down on a stock market table which symbolises a falling share price.
Share Fallers

Why Australian Vanadium, John Lyng, Nufarm, and Unibail-Rodamco-Westfield are dropping

These ASX shares are ending the week in the red...

Read more »

Red arrow going down and symbolising a falling share price.
Share Fallers

Why Nufarm, Pendal, Wesfarmers, and Westpac shares are sinking

These ASX shares are falling on Thursday...

Read more »

A man in a business suit plunges down a big square hole lit up in blue.
Technology Shares

The BrainChip share price just plunged 8%, what happened?

BrainChip shares were down 8% at one point today. What on earth is going on?

Read more »

Man with his head on his head with a red declining arrow and A worried man holds his head and look at his computer as the Megaport share price crashes today
BNPL shares

Zip share price dives to yet another multi-year low

The Zip share price is copping another hammering so far this Thursday...

Read more »

Concept image of US dollar in front of a graphic showing shares and a downward arrow representing the VTS ETF
ETFs

Vanguard US Total Market Shares Index ETF tumbles following Wall Street sell-off

This Vanguard ETF is feeling the pain today. Here's why...

Read more »

Share Fallers

Why Boral, Eagers Automotive, PolyNovo, and Serko shares are dropping

These ASX shares are under pressure on Wednesday...

Read more »

Rede arrow on a stock market chart going down.
Share Fallers

Why Brambles, James Hardie, Seek, and Sezzle shares are sinking

These ASX shares are under pressure on Tuesday...

Read more »