the Deloitte Queensland Index largely held its ground in Q3 2022, with only a small 0.01% decrease from the previous quarter, outperforming all major global indices which reported larger declines. Strong performance in the Energy & Resources sector offset declines across all other sectors in this past quarter.

resource-rich Queensland is well-placed in the current high energy price environment brought about by the global energy supply crunch, with record high commodity prices benefitting companies producing and exporting energy. The E&R sector now accounts for 28.9% of the total market capitalisation of the Deloitte Queensland Index, and four out of top six performers by dollar movement in market capitalisation are in this sector.

sentiment amongst dealmakers is positive as the appetite for quality assets from seasoned buyers remains strong. Significant Queensland-based transactions in Q3 2022 included Suncorp Group Limited’s announced sale of their banking business, Suncorp Bank, to Australia and New Zealand Banking Group Limited for c.$4.9b.