WA Index

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WA Index

Issue 197 | February 2021

Welcome to the 197th edition of the Deloitte WA Index, a monthly review of Western Australian stocks and indices.

The market capitalisation of Western Australian listed companies increased by 1.7% over the course of January, to close at $271.8 billion. Global Indices, the US S&P 500 and the FTSE 100, were impacted by retail traders sending heavily shorted stock prices skyrocketing.  The All Ordinaries and Asia’s Nikkei saw a slight increase in comparison to December 2020 close.

Download the list of WA’s top 100 listed companies, as of 31 January 2021, explore the sections below and if you do not currently receive our WA Index, please register to be added to our distribution list

Highlights:

If you have any questions in relation to the Deloitte WA Index please contact Dave Andrews.

As of 31 January 2021

Performance of WA Index and global indices

Performance of WA Index and global indices
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WA Index movement

WA Index movement
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Top movers in the Top 20

Top movers in the Top 20
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  • Lynas Rare Earths Limited's market capitalisation soared 20% over the month of January, closing at $4.307 billion. This increase followed the announcement of a signed contract to build a commercial light rare earths separation plant in the US, as well as the release of the company’s quarterly activities report for the December quarter.
  • Over the month, Pilbara Minerals’ market capitalisation increased by 13% on the back of the announcement of the successful completion of the entitlement offer, raising A$60.6m to support the acquisition of Altura’s Pilgangoora Lithium Project. The release of the December quarterly activities report also supported the market capitalisation increase, with a 62% increase in sales from the prior period and record spodumene concentrate shipments.
  • The market capitalisation of Galaxy Resourcesincreased 21% in January due to stronger spot prices for lithium. Galaxy also released its December quarter activities report, announcing the successful extension of its $40m undrawn debt facility maturity date by 12 months, and increased production at Mt Cattlin which is benefiting from growing consumer demand and higher pricing.

Top movers in the Top 100

 Top movers in the Top 100
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  • Vulcan Energy Resources' market capitalisation surged by 223% across January. The company announced its positive pre-feasibility study (PFS) results in early January, which highlighted the strong potential for development of a combined renewable energy and lithium hydroxide project in Europe.
  • The market capitalisation of 4DS Memory Limited climbed 96% over the month. This growth was accelerated by the release of the company’s quarterly activity report that showed 4DS strengthened its 100% owned patent portfolio, which now includes 29 granted patents.
  • Strategic Elements' market capitalisation skyrocketed 217% across January, following a series of market sensitive announcements. A brief pause in trading on the 19th of January was shortly followed by the company’s announcement clarifying that the technology for a one megabit low power, transparent memory device is under development, and on track to be achieved by May 2021.

If you don’t currently receive our WA Index, you can register to be added to our distribution list.

If you have any questions in relation to the Deloitte WA Index please contact Dave Andrews.

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