Cleantech stocks stay ahead of pack, despite average October

The Australian CleanTech Index fell from 55.94 to 55.55 over the month of October recording a 0.7 per cent loss. This compared to the ASX200 loss of 2.2 per cent and the ASX Small Ordinaries Index loss of 4.8 per cent. The Australian CleanTech 20 fell by 0.8 per cent for the month.

The CleanTech Index also continues to outperform the wider market over each of the longer periods reported in the table below. The 12-month performance continues to lead the ASX200 by over 20 per cent.

The best performing sub-index for the month was the Australian Waste Index with a 4.9% gain, led by the 7.7% gain from the ever volatile Sims Metal Management. The Australian Efficiency & Storage Index also had a good performance recording a 1.8% gain for the month. The weakest sub-index through October was the Australian Water Index recording a loss of 2.5 per cent.

The market capitalisation of the 64 stocks in the Australian CleanTech Index is A$27.2 billion, slightly down from last month’s new high. The month’s performance included 8 companies with gains of more than 10%. The greatest percentage gains were recorded by Kalina Power (KPO), Traffic Technologies (TTI) and Carnegie Wave Energy (CWE). The greatest market capitalisation gain was recorded by Orocobre (ORE).

These gains were partially offset by 6 companies recording losses of more than 10% led by Australian Vanadium (AVL), CleanTeQ (CLQ) and Energy Action (EAX). The greatest market capitalisation loss was recorded by Meridian Energy (MEZ).

John O’Brien is managing director of  Australian CleanTech www.auscleantech.com.au