Deloitte WA Index suffers April fall

For the first time in 12 months, the Deloitte WA Index has fallen, recording a combined market capitalisation of $65.3 billion for the top 100 WA listed companies in April.

This is 5.7 per cent lower than the March figure of $69.2 billion.

Most sectors suffered falls during the month, with the largest reported in the mining and manufacturing industries.

There were notable decreases in the share prices of Minara Resources (10 per cent lower) and LionOre Mining International (down 14.2 per cent), while Wesfarmers was heaviest hit in the manufacturing sector, ending the month 9.7 per cent lower.

The gas sector was the only industry to experience significant gains, thanks largely to increases in Alinta shares.

The largest individual growth was in shares of Heron Resources, which were up 84.5 per cent in April to a total market capitalisation of $105 million.

During April, BHP Mineral Holdings and Heron’s Kalgoorlie nickel project partner, Inco, both acquired stakes in the company.

Other standouts included Aurora Oil and Gas, up almost 60 per cent to a market capitalisation of $32 million, and John Borshoff’s Paladin Resources, which was 17 per cent higher with a market capitalisation of $397 million.

The ASX All Ordinaries Index also declined during the month, losing 3.8 per cent, driven largely by falls in BHP Billiton and Rio Tinto, with growth in the banking sector offsetting the falls to a degree.