Western Australian Stock Exchange Index
Issue 134 | January 2014
Welcome to the 134th edition of the Deloitte WA Stock Exchange Index (Deloitte WA Index), a monthly review of Western Australian (WA) stocks and indices.
- The Deloitte WA Index decreased by 4.2% during January 2014 closing at AU$149.0bn, reversing some of the gains experienced recently as commodity prices fell
- Volatile commodity prices, particularly the performance of the industrial metals, dampened the Australian equity markets, with the ASX All Ordinaries closing 2.8% down in January
- Iron ore was the most severely affected as China halts its accumulation of ore stockpiles due to lower domestic steel production
- The continued tapering of the U.S Federal reserve monetary stimulus program and lower than expected U.S. employment data is continuing to have a negative effect on global indices, with the FTSE 100 and US S&P 500 falling 3.1% and 2.9% respectively
- The movers and shakers for the month showed strong representation from the gold sector, with gold prices up 2.9% during the month. These companies were:
- Perseus Mining Limited, posting an increase in market capitalisation of AU$64m (57.1%) from AU$112m to AU$176m
- Saracen Mineral Holdings Limited, whose market capitalisation increased by AU$60m (54.1%) to finish the month at AU$170m
- Doray Minerals Limited, whose market capitalisation increased by AU$37m (46.4%) to close at AU$116m.
If you have any questions in relation to the Deloitte WA Index please contact Marta Klimczak.