With a strong performance today as we head into the end of trade on Friday, the S&P/ASX 200 Index (ASX: XJO) is up 0.5% for the week, but these three ASX 200 stocks certainly haven't helped the recovery.
One of this week's laggards is a major iron ore miner, the second is a telecommunications company, and the third is a listed exchange group I'm confident you're well familiar with.
So, which stocks are tumbling amid this week's rebounding market?
I'm glad you asked!
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Champion Iron Ltd (ASX: CIA)
The first stock having a week to forget is Champion Iron.
Champion Iron shares closed last Friday trading for $4.93. At the time of writing, shares are swapping hands for $4.50 each. That sees this ASX 200 stock down 8.7% for the week.
Shares in the iron ore miner closed down 4.6% on Thursday, and are down another 6.1% today, following the release of the company's March quarter results.
On the plus side, the miner reported an 8% year-on-year increase in iron ore concentrate production to 3.4 million wet metric tonnes (wmt).
But investors have been favouring their sell buttons, with Champion Iron reporting a 2.3% year-on-year decline in quarterly revenue to US$414.5 million.
Earnings before interest, taxes, depreciation and amortisation (EBITDA) of US$114.3 million were down a steeper 10.3%.
Tuas Ltd (ASX: TUA)
Also taking a tumble this week, we have Tuas.
Shares in the Singapore-based telecom stock closed last Friday trading for $2.31, and are currently trading for $2.05 each. That sees this ASX 200 stock down 11.3% for the week.
There was no fresh price-sensitive news out from the company this week. But Tuas shares have been under intense selling pressure since 18 May. This follows an admission by the company that its SIMBA mobile business "may have been using radio frequency bands that it was not authorised to use".
Tuas then terminated its agreement to acquire Singapore telecom company M1 Limited, noting it would not move forward with its intended purchase.
Tuas shares are now down 66.1% since market close on 15 May.
Which brings us to…
ASX Ltd (ASX: ASX)
The worst performing ASX 200 stock this week is Australian stock exchange operator ASX Ltd.
ASX shares closed last Friday trading for $59.50. At the time of writing, shares are changing hands for $45.88.
This sees the ASX share price down a steep 22.9% for the week.
ASX shares closed down 13.2% on Tuesday after the company released an update pointing to a sharp rise in costs in FY 2027.
The telco expects total expenses to increase between 18% and 21% in the financial year ahead, partly driven by ongoing technology investments.
