Deloitte South Australian Stock Exchange Index
December 2011, No.22
Welcome to the 22nd edition of the Deloitte SA Index.
The Deloitte South Australian (SA) Stock Exchange Index (the Deloitte SA Index) increased by 20.0% during the three months to 31 December 2011, compared to a decrease of 4.7% in the previous quarter.
Deloitte Corporate Finance Partner David Hill said the December quarter for the Index’s 79 companies listed in South Australia was particularly strong compared to the S&P/ASX 200 Index.
“While the S&P/ASX 200 increased by 1.2% in the 2011 December quarter, the Deloitte SA Index rose 20.0% and recorded an increase of 17.5% over the twelve months to 31 December 2011,” he said.
“Many other major world indices increased in the quarter, including the US S&P 500 and the UK’s FTSE 100 which rose by 11.2% and 8.7%, respectively.
Click play to view the executive summary of the South Australian Stock Exchange Index.
Major company movements on the Deloitte SA Index
Santos Limited was the largest positive contributor to the Deloitte SA Index over the December 2011 quarter, with its share price increasing by 3.8% following the scrip-based takeover of Eastern Star Gas Limited and gains in its underlying share price. This saw the company’s market capitalisation increase by $1.54 billion dollars, or 15.5%.
Flinders Mines Limited experienced a 124.0% share price increase in the three months to 31 December 2011 following the announcement that Russia’s Magnitogorsk Iron and Steel Works OJSC had offered $0.30 per share for 100% of the share capital of Flinders Mines.
Beach Energy Limited was also a significant contributor to the Deloitte SA Index (share price up 14.2%) after it announced an unconditional on market takeover of Adelaide Energy Limited.
On an absolute share price performance basis, the companies that recorded the largest percentage share price increases for the three months to 31 December 2011:
- Renaissance Uranium Limited (up 133.3%)
- Flinders Mines Limited (up 124.0%)
- Earth Heat Resources Limited (up 95.0%).
The companies that recorded the largest percentage share price decreases for the 2011 December quarter were:
- Adelaide Managed Funds Asset Backed Yield Trust (down 80.4%)
- Syngas Limited (down 54.5%)
- Core Exploration Limited (down 53.6%).
Initial Public Offerings, Additions and Removals
Adelaide Managed Funds Asset Backed Yield Trust was removed from the Index following completion of a return of unit holder capital and removal from the official list of the ASX on 15 December 2011.
My ATM Holdings Limited (6 December 2011) and Digislide Holdings Limited (22 December 2011) entered administration during the quarter and so have been removed from the SA Index.
There were no initial public offerings or additions to the Deloitte SA Index in the 2011 December quarter.