Clean energy stocks return to 2007 peak

The Australian CleanTech Index rose strongly in October 2014 and outperformed both the Small Ordinaries and the ASX200.

The Australian CleanTech Index rose from 39.2 to 41.3 over the month of October recording a 5.4 per cent gain. This compared to the S&P ASX200 gain of 4.2 per cent and the S&P ASX Small Ordinaries Index loss of 0.7 per cent. The Australian CleanTech 20 also recorded a 5.4 per cent gain.

The quarterly and 12-month performances of the index also remain ahead of the benchmarks with 6.1 per cent and 11.1 per cent gains respectively.

The best performing sub-indices for the month were the ACT Waste Index with a gain of 2.4 per cent and the ACT Environment Index with a 0.4 per cent gain. The weakest sub-index through October was the ACT Geothermal Index recording a loss of 6.1 per cent.

The market capitalisation of the 63 stocks in the Australian CleanTech Index is $16.3 billion, equalling its previous peak in July 2007 and up from its low of $6.2 billion in July 2012.

The month's performance was driven by 14 companies with gains of more than 15 per cent. The greatest percentage gains were recorded by Quantum Energy (QTM), AnaeCo (ANQ) and Leaf Energy (LER). The greatest market capitalisation gains were recorded by the two New Zealand hydropower companies, Meridian Energy (MEZCA) and Mighty River Power (MYT).

These gains were partially offset by 10 companies recording losses of more than 15 per cent led by Petratherm (PTR), Eden Energy (EDE) and Cardia BioPlastics (CNN).

These best and worst performers are shown in the table below:

The 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 performance reports can be emailed directly by signing up to the distribution list.