Deloitte SA E&R Index outperformed relative to equivalent S&P/ASX benchmarkDOWNLOAD
Friday, 3 June 2011: The Deloitte SA E&R Index (which comprises forty-one South Australian listed E&R companies) outperformed relative to the equivalent S&P/ASX Indices for the three months to 30 April, increasing by 12.6% compared to a 2.3% increase in the Energy, Utilities and Metals & Mining S&P/ASC indices (on a simple average basis).
Deloitte South Australian Energy & Resources Partner, Jason Handel said the stronger performance of the SA E&R Index is a result of the increase in the market capitalisation of Santos Limited, Beach Energy Limited and Ramelius Resources Limited. The gains offset the decreases in Flinders Mines Limited, Sundance Energy Limited and Toro Energy Limited.
The Deloitte SA E&R Index increased by 12.6% during the three months to 30 April 2011, with the total capitalisation of South Australian listed E&R companies increasing by approximately $1.718 billion from $15.399 billion to $17.117 billion.
Six month movements
The Deloitte SA E&R Index increased by 30.7% during the six months to 30 April 2011, compared to the comparable S&P/ASX Indices which increased by 4% over the same six month period (on a simple average basis).
“Excluding Santos, the Deloitte SA E&R Index increased by 53.8% over the six months to 30 April 2011. This provides an indication that the junior explorer component of the market is recovering the ground lost in previous quarters.
Twelve month movements
The Deloitte SA E&R Index increased by 23.4% during the twelve months to 30 April 2011 compared to the comparable S&P/ASX Indices which increased by 7.5% over the same twelve month period (on a simple average basis).
“The performance of the Deloitte SA E&R Index is more pronounced if the impact of Santos Limited is excluded with an increase of 55.6% over the period,” Jason Handel said.
S&P/ASX Indices Analysis
The report shows the best performing sector within the E&R industry over the three months to 30 April 2011, on a total market capitalisation basis, was the Energy sector, which recorded an increase of 4.2%. This compares to the Metals & Mining sector which increased 2.3% and the Utilities sector which increased 0.4%.
The Deloitte SA E&R Index is compiled from publicly available information provided by the Australian Securities Exchange Limited (ASX) on 30 April 2011 and is based on the market capitalisation weighted share price performance of each South Australian listed E&R company, and those companies with an industry classification of Energy, Utilities or ‘Metals & Mining’