WA Index continues growth

The market capitalisation of WA companies in the Deloitte WA Index increased marginally, bucking the global downward trend.

The market capitalisation of WA companies in the Deloitte WA Index increased marginally in, bucking the global downward trend in equity values during the month.

Western Australian companies have gone against the global downward trend and continued marginally increase their market capitalisation on the month of October.

According to Deloitte WA Index, WA companies increased by 0.2% to $144.9 billion, with two resource companies being among the most positive movers.

Focus Minerals and United Minerals increased their market capitalisation by 47.5% and 42.1% respectively.

“The continued strength in commodity prices has supported the WA Index due to its significant exposure to the mining and resources sector,” Deloitte WA Managing Partner Keith Jones said.

According to Deloitte, its WA Index was in contrast to major world indices, which fell in October.

The Nikkei fell by 1%, while the Australian All Ordinaries, US S&P 500 and FTSE 100 all fell further, decreasing by 1.9%, 2.3% and 2.7 % respectively.

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