Welcome to the 204th edition of the Deloitte WA Index, a monthly review of Western Australian stocks and indices.
The market capitalisation of Western Australian listed companies climbed 6% over the month of November, to close at $297.3bn. The rise in the WA Index was assisted by the listing of APM Human Services International Limited, with the company taking 15th place in its debut month. The increase in the Index bucked the global market trends– with the All Ordinaries, US S&P 500, FTSE 100 and Nikkei all losing ground over the month. The high flight of lithium also continues, with the standout commodity up another 7%, bringing its year-on-year growth to 326%.
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Coking coal, LNG and crude oil were the biggest absolute value movers in November – with gold and thermal coal closing out the month square. Thermal coal has not gained the usual price hike associated with the winter period in China, as temperatures have not yet fallen as significantly as in previous years. The gold price remained mellow despite fresh uncertainties around the new Omicron COVID variant and the possibility of increased interest rates.
Performance of WA Index and global indices
WA Index movement
Top performers of the month
Western Australian top performers over the past month by growth in market capitalisation
The top Deloitte WA Index Movers and Shakers in November were: