Contact: Keith Jones
Deloitte
Managing Partner
(08) 9365 7233

Contact: Warrick Hazeldine
Purple Communications
0417 944 616

In February, the Deloitte WA Index of listed WA companies increased in total market capitalisation by 2% or $2.42 billion to $128 billion, despite the market correction which occurred.

Deloitte Perth Office Managing Partner Keith Jones said resources companies continued to lead the way in February.

“Despite market set backs, the Deloitte WA Index experienced sustained growth, with notable increases experienced by WA resources companies,” Mr Jones said.

Deloitte WA Index Movers and Shakers for February include Linq Resources Ltd increasing its market capitalisation by 88% ($125 million), Imdex Ltd up $33% ($42.4 million), Tutt Bryant Group Ltd up 30.2% ($43 million) and Aquila Resources up 30% ($177 million).

“In February, commodity market prices rose across the board, with uranium prices leading the way with an 18% rise,” Mr Jones said.

In February, precious and base metals prices increased by an average of 6.5%.  Key gains were made in the prices of Uranium (up 18%), Nickel (13%), Lead (9%), Tin (9%) and Oil (6%).

“The only price decline was Zinc, down slightly by 0.6%,” Mr Jones said.

For the month of February, the Deloitte WA Index was up by 1.9%, the Nikkei up 1.27%, and the All Ordinaries up 1.02%. Meanwhile, the FTSE and the US S&P 500 decreased by 1.16% and 2.08% respectively.

Over the last 12 months the Deloitte WA Index increased by 42.6%. In comparison, other indices increases over the last 12 month were All Ordinaries up 19.23%, US S&P 500 and the FTSE up 8% and the Nikkei up 5%.

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