Cleantech stocks shine, tracking nearly 30% ahead of main index

The Australian CleanTech Index rose from 42.97 to 43.89 over the month of February recording a 2.2% gain. This compared to the S&P ASX200 loss of 2.5% and the S&P ASX Small Ordinaries Index gain of 0.7%. The Australian CleanTech 20 rose 2.3% for the month.

The CleanTech Index continues to outperform the wider market over each of the longer periods reported in the table below. The 12-month performance now leads the ASX200 by 11.1%.

The best performing sub-indices for the month were the Australian Renewable Energy Index with a 3.7% gain and the Australian Waste Index with a 3.6% gain. The weakest sub-index through February was the Australian Environment Index recording a loss of 4.0%.

The market capitalisation of the 62 stocks in the Australian CleanTech Index is A$16.7 billion down from the March 2015 record of $18.9 billion but a long way up from its low of A$6.2 billion in July 2012.

The month’s performance included 9 companies with gains of more than 10%. The greatest percentage gains were recorded by HRL Holdings (HRL), Neometals (NMT) and RedFlow (RFX).

The greatest market capitalisation gain was recorded by Meridian Energy (MEZ). These gains were partially offset by 10 companies recording losses of more than 10% led by GO Energy Group (GOE), Kalina Power (KPO), Traffic Technologies (TTI) and Enerji (ERJ). The greatest market capitalisation loss was recorded by Mighty River Power (MYT).