South Island Index: 16th edition
Review of performance during the quarter to 31 December 2011
Welcome to the 16th edition of the Deloitte South Island Index. In this edition we reflect on the performance of South Island listed companies during the quarter to 31 December 2011.
The Deloitte South Island Index had a moderate increase in the fourth calendar quarter of 2011 by $23 million or 0.5% in market capitalisation on the previous quarter. The total market capitalisation for the index now stands at $4.58 billion – 3.4% lower than a year ago.
Paul Munro, a corporate finance partner in Deloitte’s Christchurch office, says issues associated with the protracted European sovereign debt crisis continue to depress investor confidence.
Mr Munro says the performance of the index in this quarter shows that New Zealand markets are impacted by global events, despite our obvious geographical distance.
“Our view remains that in the longer term the prospects for South Island companies are positive, with all the signs that the predicted economic upturn from construction activity associated with the Christchurch earthquake recovery will start to flow through in the year ahead.”
If you would like to speak to someone about the Deloitte South Island Index, please contact Paul Munro.