WA Deloitte Index passes $100bn mark

The market capitalisation of Western Australian listed companies has surged back above the $100 billion mark for April, led by resource companies Aditya Birla Minerals, Mirabela Nickel and Perilya.

According to latest figures from the Deloitte WA Index, the market capitalisation of WA stocks rose 11.24 per cent or $10.3 billion to rest at $101.9 billion at the end of April.

The index has risen 39 per cent from a base of $73 billion recorded at the end of January.

Deloitte said it is the first time the index has been above $100 billion since the October last year.

Wesfarmers led the way in the retail sector, with an increase in market capitalisation of $3.9 billion in Paril, while the mining sector recorded strong growth of $3.9 billion.

The mining sector gains were led by strong gains in Aquarius Platinum, following its $350 million capital raising, and Paladin Energy on the back of its second uranium mine opening.

Overall, movers and shakers in the index included Aditya Birla, Mirabela and Perilya, with the market capitalisation of each company increasing by 157 per cent, 148 per cent and 128 per cent respectively.

All major indices continued to increase in April with the All Ordinaries index gaining 6 per cent in April while the US S&P 500 jumped nearly 11 per cent.

Base metals recovered during the month with the prices of tin rising 19.3 per cent, nickel up 19.2 per cent, copper up 10.7 per cent and zinc increasing by 8.5 per cent.

Meantime, the prices of precious metals gold and silver dropped 3.4 per cent and 4.6 per cent respectively.