Aust CleanTech Index again beats main market, as new FY begins

The Australian CleanTech Index has made a good start to the new financial year, closing the month with a 5 per cent gain and outperforming the Small Ordinaries and the ASX200.

The latest results for the Index for the month of July 2014 were released by the Australian Clean Tech Network on Monday, noting that it rose from 37 to 38.9 over the month – a 5 per cent gain, compared to 4.4 per cent for the S&P ASX200, and 4.8 per cent for the S&P ASX Small Ordinaries Index.

The market capitalisation of the 65 stocks on the Index stood at $15.3 billion for the month, not far from its peak of $16.3 billion in July 2007, and well up from its low of $6.2 billion in July 2012.

The best performing sub-indices were Waste (a gain of 13.0 per cent) and Efficiency (a 9.6 per cent gain).

Solar took a hit in July, however, the sub-index recording a loss of 26.7 per cent. The Water sub-index was also down, recording a gain of only 2.8 per cent, making it one of the lowest performing sub-indices.

Currently, the market capitalisation of the 65 stocks in the Australian CleanTech Index sits at A$15.3 billion, slightly down from its peak of $16.3 billion in July 2007 but way up from its low of A$6.2 billion in July 2012.

July’s performance was primarily driven by twelve companies with gains of over 15 per cent including K2 Energy Limited, Quantum Energy and Actinogen.

However, these gains were offset by five companies recording losses of more than 10% led including Sylex Systems – following the demise of its uranium enrichment development activities – SWW Energy Limited and Soil Sub Technologies.