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Queensland stocks outperform |
Brisbane: 6 September 2010: The Deloitte Queensland (Qld) Index increased 5.5% during August 2010, outperforming the ASX All Ordinaries which decreased 1.5% over the same period.
This is consistent with the broader trend of Qld stocks outperforming the All Ords Index since the March 2009 downturn. The Deloitte Qld Index has increased 35.3% since March 2009 compared to 25.7% for the ASX All Ords over the same period.
According to Deloitte Corporate Finance Partner, Robin Polson, the month of August was mixed for Australian financial markets. “Uncertainty surrounding the state of the US economy rattled international markets, with a consensus emerging that the developed world will likely grow at a lower, more sustainable rate in the near term,” he said. “Earnings season did not yield any significant surprises and the market reacted accordingly.”
Of the 191 companies on the Deloitte Qld Index monitored in August, 84 companies increased their market capitalisation, 78 companies decreased their market capitalisation and the remainder were steady. Arrow Energy Limited exited the Deloitte Qld Index in August following finalisation of the acquisition of all of its share capital by CS CSG (Australia) Pty Ltd and Aston Resources Limited joined following its listing during the month.
Flight Centre Limited enjoyed the only significant increase in market capitalisation during August 2010, with the largest decreases in market capitalisation coming from Billabong International Limited, CuDeco Limited and Macarthur Coal Limited.
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