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2005/06 Market Performance
In comparison to international markets, the Australian market has been a strong performer over the 2005/06 financial year second only to Japan, a market that has underperformed for a number of years until a dramatic turnaround over the last financial year. Total returns from the S&P / ASX 200 Accumulation Index were around four times the returns of the S&P 500 and nearly twice the returns of the FTSE 100.
Once again the Australian Market performs strongly in the 2005/06 financial year....
Top performing sectors over the financial year included Resources (up 49.7%), Materials (up 45.7%) and Energy (up 31.7%). Capitalising on the strength of the market were 227 new listings, raising over $14 billion and secondary equity issues raising in excess of $28 billion. Of these new listings, 86 were resource stocks, accounting for nearly 42% of all new listings for the financial year.
The performance of these debutantes ranges from a 350% gain to a 70% loss from their issue price with the average and median return gains of 18% and 10%, respectively.
There have been a number of significant capital raisings over the 2005/06 financial year with the largest floats including:
- Goodman Fielder Limited ($2.7 billion)
- Preferred Capital Limited ($1.2 billion)
- Spark Infrastructure Group ($1.15 billion)
- SP Ausnet ($1.13 billion)
- Dyno Nobel Limited ($1.07 billion)
Australian Market Performance ove 2005/06- Summary Statistics Table
|S&P/ASX 200 at 30 June 2006||5073.9|
|% change 12 months to 30 June 2006||18.6%|
|Entities* listed on ASX at 30 June 2006||1930|
|New Entities* listed over 2005/06||227|
* Includes companies and trusts with quoted equities and listed entities with debt securities only or no quoted securities. These are treated as separate entities.
The outlook for the 2006/07 financial year remains strong with $6 billion plus IPOs in the pipeline.
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