Australian Cleantech Sector Records Another Poor Month

Nov 2 2009 | 9:17am ET

The ACT Australian CleanTech Index fell from 74.6 to 70.1 over the month of October, a 6.0% loss.

The index underperformed both its benchmarks: the S&P ASX200, which lost 3.8% over the same period and the S&P ASX Small Ordinaries Index, which lost 3.3%.

The market capitalization of the 77 stocks in the ACT Australian CleanTech Index is A$10.5 billion ($9.5 billion) falling from its peak of $16.3 billion ($14.7 billion) in July 2007.

The month’s performance was the result of poor performances by Quantum Energy, the Crane Group (profit-warning), Ceramic Fuel Cells (profit-taking), Willmott Forests, Stericorp and, most significantly, a 9% drop in the price of Sims Metal Management following a first quarter profit result that was 77% down on the previous corresponding period.

The results were partially offset by strong results from EnviroMission, Transfield Services Infrastructure Fund, Tox-Free Solutions, Pro-Pak Packaging, CBD Energy, the CO2 Group and BioProspect.

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