Deloitte South Australian Index outperformed ASX 200 in the 2011 September quarterDOWNLOAD
24 October 2011: The Deloitte South Australian Stock Exchange Index (Deloitte SA Index) decreased by 4.7% during the three months to 30 September 2011 compared to a decrease of 12.4% in the previous quarter.
Deloitte Corporate Finance Partner David Hill said, “While the S&P/ASX 200 decreased by 13.1% in the 2011 September quarter, the Deloitte SA Index fell by just 4.7%, and actually recorded an increase of 3.3% over the twelve months to 30 September 2011.”
Many of the major world indices decreased in the three months to 30 September 2011, with the US S&P 500, FTSE 100 and the Nikkei 225 experiencing decreases of 14.3%, 13.7% and 11.4%, respectively.
Beach Energy Limited was the highest positive contributor to the Index over the three months to 30 September 2011 following the announcement on 15 September 2011 that the Paralana geothermal energy project, in which Beach Energy Limited is a joint venture partner, was on schedule to commence its first flow testing operations.
Ramelius Resources Limited’s share price increased by 10.9% during the three months to 30 September 2011 in response to the company’s announcement of a profit before tax result of approximately $90 million for the 12 months to 30 June 2011, an increase of more than 300% relative to the prior comparable period.
Flinders Mines Limited experienced share price increases in the three months to 30 September 2011 after the company announced on 1 September 2011 that it had appointed Citigroup Pty Limited’s Global Banking division to review Flinders Mines Limited’s strategic partnering options for its Pilbara iron ore project in Western Australia.
On an absolute share price performance basis, the companies that recorded the largest percentage share price increases for the three months to 30 September 2011 were Prince Hill Wines Limited, which increased by 50.0%, Archer Exploration Limited (40.7%) and Strzelecki Metals Limited (36.4%).
The three companies that recorded the highest percentage share price decreases for the 2011 September quarter were: Marathon Resources Limited (-69.2%); Renaissance Uranium Limited
(-54.5%); and Austofix Group Limited (-50.9%).
Initial Public Offerings, Additions and Removals
CRW Holdings Ltd was added to the Deloitte SA Index in the 2011 September quarter after the company was reinstated to official quotation on the ASX on 29 September 2011.
MUI Corporation Limited was also added as a result of the company changing its registered office to South Australia on 1 July 2011.
Cheviot Kirribilly Vineyard Property Group and Musgrave Minerals Limited were removed from the Deloitte SA Index as a result of the companies changing their registered office from South Australia on 8 July 2011 and 11 August 2011 respectively.
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