WA Index - April 2015 | Deloitte Australia | Monthly review of Western Australia stocks and indices has been added to your bookmarks.
Western Australia Index
Issue 145 | April 2015
Welcome to the 145th 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 increased by 1.7% during April to close at AU$131.0bn
- The Index’s performance was boosted by stronger commodity prices which was a welcome relief after the poor performance experienced in recent months, and a small sign of recovery in the Western Australian market
- The majority of commodities surveyed increased during the month, in particular crude oil rose to its highest price so far for 2015 to close at US$64.06 per barrel
- Iron ore also rebound by 9.4% to close at US$58 per tonne, as BHP Limited announced a slowdown of the expansion of its export terminal in Port Hedland to 290 million tonnes a year, which is expected to ease the oversupply in the market, combined with positive developments from a Chinese demand perspective
- Global equity markets performed well, with the exception of the All Ordinaries which fell, despite the rebound in commodity prices, as a result of concerns over the direction of the RBA’s official cash rate, and suggestions that Australia’s AAA credit rating is at risk unless the Federal Government can display a credible plan for returning the Budget to surplus
- The Movers & Shakers for the month of April are:
o Aziana Limited, whose market capitalisation increased by AU$54m (277.9%) to AU$74m
o Coal of Africa Limited, whose market capitalisation increased by AU$34m (75%) to finish the month at AU$78m
o Buru Energy Limited, whose market capitalisation increased by AU$75m (68.7%) to close at AU$184m.
If you have any questions in relation to the Deloitte WA Index please contact Adrian Kelly.