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A dirty dozen drive green stocks down

Australia's cleantech index fell across the month, driven by 10%-plus falls from a dozen companies including Sylex Systems and Geodynamics.
By · 10 Jun 2014
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10 Jun 2014
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The ACT Australian CleanTech Index fell in May and underperformed both the Small Ordinaries and the ASX200.

The index fell from 38.0 to 37.2 over the month of May recording a 2.3 per cent loss. This compared to the S&P ASX200 gain of 0.1 per cent and the S&P ASX Small Ordinaries Index gain also of 0.1 per cent.

The Australian CleanTech 20 recorded a slightly better result with a loss of 2.1 per cent.

The best performing sub-indices for the month were the ACT Waste Index with a gain of 0.1 per cent and the ACT Water Index with a loss of just 0.7 per cent.

The two weakest sub-indices through May were the ACT Biofuels Index (as usual!) which recorded a loss of 25 per cent and the ACT Solar Index recording a loss of 18.3 per cent.

Graph for A dirty dozen drive green stocks down

The market capitalisation of the 64 stocks in the ACT Australian CleanTech Index is $14.3 billion falling from its peak of $16.3 billion in July 2007 but up from its low of $6.2 billion in July 2012.

The month’s performance was driven by 12 companies with losses of more than 10 per cent. The greatest percentage losses were recorded by Water Resources Group (WRG), Australian Renewable Fuels (ARW) and Papyrus Australia (PPY). These losses were partially offset by seven companies recording gains of more than 10 per cent led by Phoslock Water Solutions (PHK), Intec (INL) and RedFlow (RFX).

The greatest losses in market capitalisation over the month were recorded by Mighty River Power (MYT), Sylex Systems (SLX) and Sims Metal Management (SGM). These best and worst performers are shown in the table below.

Graph for A dirty dozen drive green stocks down

Graph for A dirty dozen drive green stocks down

The ACT Australian Cleantech Index is published each month on the Australian CleanTech website at www.auscleantech.com.au, in the Ethical Investor magazine, WME’s Environmental Management News, the Clean Energy Council website, the SIM Venture Securities Exchange website and the London-based Cleantech Investor.  

Monthly results can be emailed directly to interested parties by signing up to the distribution list at http://www.auscleantech.com.au/Pages/cleantech.html.

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John O'Brien
John O'Brien
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