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Deloitte Queensland ASX and Energy & Resources Indices outperform amid uncertain global outlook


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17 January 2012: Deloitte has released the latest editions of its Queensland ASX and Energy and Resources (E&R) Indices.

ASX Index

The Deloitte Queensland ASX Index, a review of 213 Queensland listed companies, increased 2.5% during December 2011, compared to an ASX All Ordinaries decrease of 1.8% over the same period.

Over the 12 months to 31 December 2011, the Deloitte Queensland Index also increased 14.7% compared to a decrease of 15.2% for the ASX All Ordinaries.

Major Queensland ASX company movements

Deloitte Corporate Finance Partner Robin Polson said: “Queensland’s outperformance during December can be attributed largely to the resilience of our two largest listings, Suncorp and QR National. Annually, outperformance can be attributed to QR National, New Hope and Campbell Brothers.”1

In December, 72 Queensland listed companies increased their market capitalisation, 110 decreased their market capitalisation, while the remainder were steady.

The largest increase came from Suncorp, up $193 million (1.8%) during December. Standard & Poor’s affirmed its long-term credit rating of Suncorp’s banking arm at A+ with a stable outlook during the month, and Suncorp remained at number one on the Deloitte Queensland Index.

Other notable market capitalisation increases included:

  • Aston Resources, up $170 million (10.0%)
  • Transpacific Industries, up $103 million (8.7%)
  • QR National, up $98 million (1.2%).

The largest decrease came from Billabong, which fell $487 million (51.9%) following a disappointing quarter in which the company was removed from the S&P/ASX 100 Index and its share price fell significantly after it announced plans to review its operations and capital structure.

Other notable market capitalisation decreases included:

  • New Hope, down $307 million (6.3%)
  • Flight Centre, down $275 million (14.6%)
  • Linc Energy down $182 million (24.7%).

E&R Index

The Deloitte Queensland E&R Index, which covers 96 Queensland listed companies in the sector, increased 2.2%, while the ASX All Ordinaries increased 1.0% over the same period.

In the 12 months to 31 December 2011, the Deloitte Queensland E&R Index increased 25.9%, compared with a 15.2% decrease for the ASX All Ordinaries.

Major Queensland E&R company movements

“The outperformance during the December quarter was largely driven by the strong return from PanAust Resources and the resilience of New Hope,” Mr Polson said. “The large annual outperformance was driven by the return of Macarthur Coal, recently acquired by Peabody Energy, which was formerly the largest listing on the Index.”

During the December 2011 quarter, 40 E&R companies enjoyed an increase in market capitalisation, 52 decreased and the remainder were steady.

The most significant positive movement came from PanAust, with its market capitalisation increased $392 million (26.0%).

Other notable E&R market capitalisation increases included:

  • Senex Energy, up $190 million (48.3%)
  • Cudeco, up $119 million ($24.1%).

The largest decrease in market capitalisation during the quarter came from Linc Energy, which fell $416 million (42.7%), following a $472 million decrease in the September 2011 quarter.

Other notable E&R market capitalisation decreases included:

  • Aston Resources, down $195 million (9.5%)
  • Dart Energy, down $114 million (30.1%).
The Deloitte Queensland ASX and E&R Indices are available here.

 

1.The Deloitte Queensland Index is calculated using a market capitalisation-weighted methodology, meaning the largest companies have the largest influence over its movement. A similar methodology is utilised in the calculation of the S&P/ASX All Ordinaries and S&P/ASX 200 indices.

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Contacts

Name:
Robin Polson
Company:
Deloitte Australia
Job Title:
Partner - Corporate Finance
Phone:
Tel: +61 7 3308 7282
Email
rpolson@deloitte.com.au
Name:
Simon Rushton
Company:
Deloitte
Job Title:
Corporate Affairs and Communications
Phone:
Tel: +61 2 9322 5562; M: +61 450 530 748
Email
srushton@deloitte.com.au

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