Rising commodity prices drew the market capitalisation of Western Australian companies up 4.4 per cent to $143 billion, according to accounting firm Deloitte's WA Index for April.
The full text of a Deloitte announcement is pasted below
The Market Capitalisation of Western Australian listed companies included in the Deloitte WA Index continued to grow strongly (4.4%) from March to April increasing $6.01 billion to $143 billion, on the previous month.
Deloitte Perth Office Managing Partner Keith Jones said rising commodity prices continued to be the driving force behind the Deloitte WA Index's strong growth.
"Once again, resources companies are the major beneficiaries of the $6.01 billion gain to the Deloitte WA Index in April," Mr Jones said.
The leading Mover and Shaker for April was Arafura Resources Ltd which increased its market capitalisation by 50% to $227 million, Independence Group NL up 48.5% to $846 million and Kings Minerals NL up 47% to $318 million. Other significant movements during the month were Deep Yellow Ltd , which increased 62% to $673 million, Western Metals Ltd 59% to $68 million and Equinox Minerals Ltd 33% to $1.4 billion).
"Uranium, zinc and copper prices all increased significantly in April, up 19%, 15% and 13% respectively," Mr Jones said.
Precious and base metals both increased an average of 6.23% in April with oil the only commodity to decrease ( -0.2%).
The Deloitte WA Index for April was up 4.37%, the Nikkei up 0.65%, the All Ordinaries increased by 3%, and the FTSE and the US S&P 500 increased by 2.49% and 5.03% respectively.
"The Deloitte WA Index continues to charge ahead. Over the last 12 months, it has increased by 39.28%, more than double the 18.27% rise of the All Ordinaries," Mr Jones said.
Increases over the last 12 months for all other indices were US S&P 500 14.08%, the FTSE and the Nikkei by 7% and 2.92% respectively.
