Clean tech stocks suffer poor start to 2017
18 April 2017
Australian clean tech stocks fell 0.8 per cent in March and 2.6 per cent in the first quarter of 2017, according to new figures from the Australian Clean Tech Index, which covers 62 stocks with a market capitalisation of $31.2 billion.
In comparison, the ASX200 rose by 2.7 per cent in March and 3.5 per cent over the first three months of 2017.
Big losses in the efficiency and storage index of 12.2 per cent were the major causes of the decline, with a 39 per cent loss for both Orocobre and Metro Performance Glass over the quarter.
The best performing sub-index for the quarter was the Australian Renewable Energy Index with a 2.1 per cent gain, led by Meridian Energy, which showed the greatest gain in market capitalisation for the month of March.
Companies that had over 20 per cent share price gain over the past three months included Enerji, CleanTeQ and Papyrus Australia.
Over the long term, the index is still ahead of the ASX200. Over the past 12 months, the Australian CleanTech Index recorded a gain of 21.7 per cent – 6.1 per cent ahead of the ASX200. And over the past three years, the index leads the ASX200 by 40 per cent.