Deloitte SA Index outperformed the ASX 200 in the 2011 March quarterDOWNLOAD
Monday, 2 May 2011: The Deloitte South Australian Stock Exchange Index (the Deloitte SA Index) increased by 17.3% during the three months to 31 March 2011, compared to an increase of 5.5% for the previous quarter.
David Hill, Deloitte Corporate Finance Partner said, “A number of the largest companies by market capitalisation in the Deloitte SA Index experienced announcement and event driven share price increases in the three months to 31 March 2011 and as such, the Deloitte SA Index outperformed the ASX 200 in the 2011 March quarter.
“The majority of the increase in the Deloitte SA Index can be attributed to the share price increase of the largest constituent by market capitalisation of the Deloitte SA Index, being Santos Limited, which experienced a share price increase of 18.3% in the 2011 March quarter.” said David Hill.
Many of the major world indices also increased in the three months to 31 March 2011. The US S&P 500 and FTSE 100 experienced increases of 5.4% and 0.2%, respectively. However, the Nikkei 225 recorded a decrease of 4.6%. The S&P/ASX 200 benchmark increased by 2.0% over the same period.
Santos’ share price increase primarily reflected positive market sentiment following the announcement of a Final Investment Decision being reached by the partners to the GLNG project on 13 January 2011.
Ramelius Resources’ share price increased by 36.6% during the three months to 31 March 2011 reflecting positive market sentiment for the company following its announcement on 17 January 2011 of an expected net profit after tax of approximately $47 million for the six months to 31 December 2010.
Beach Energy was the third highest contributor to the increase in the Deloitte SA Index for the three months to 31 March 2011. The increase in Beach Energy’s share price reflects positive market sentiment following Beach Energy’s successful takeover of Impress Energy Limited and the subsequent upgrade to the reserves associated with this acquisition.
On an absolute share price performance basis, energy companies recorded the largest percentage share price increases for the three months to 31 March 2011. The best performers were Bionomics Limited, which increased by 67.7%, Adelaide Energy Limited (60.0%) and Archer Exploration Limited (38.2%).
The three companies that recorded the highest percentage share price decreases for the 2011 March quarter were Renaissance Uranium Limited (-70.6%), UraniumSA Limited (-42.6%) and Curnamona Energy Limited (-42.0%).
Initial Public Offerings, Additions and Removals
Two companies were added to the Deloitte SA Index following the successful Initial Public Offering of MY ATM Holdings Limited and Core Exploration Limited. MY ATM Holdings Limited closed on 31 March 2011 17.5% below its original list price of $0.20 per share on 13 January 2011. Core Exploration Limited closed on 31 March 2011 2.5% below its original list price of $0.20 per share on 11 February 2011.
In addition, Austin Exploration Limited and Kibaran Nickel Limited (formerly Kagera Nickel Limited), were removed from the Deloitte SA Index in the 2011 March quarter as a result of the companies changing their registered office addresses away from South Australia on 31 January 2011 and 25 February 2011, respectively.
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