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Queensland stocks beat the benchmark as private equity pushes mergers

The value of Queensland’s listed companies jumped 31 per cent last year, outpacing the All Ords and led by resource and energy stocks, according to Deloitte.

Apr 01, 2022, updated Apr 01, 2022
Australian shares have maintained momentum after hitting all-time levels last week. (Pic Steven Saphore/AAP PHOTOS)

Australian shares have maintained momentum after hitting all-time levels last week. (Pic Steven Saphore/AAP PHOTOS)

The Deloitte Index fell slightly in the fourth quarter but still managed to bring in a value of Queensland’s listed companies of $124 billion.

The index tracking also found it was a big year for mergers and acquisitions. Deals worth $16.5 billion were announced, an increase of 60 per cent.

Deloitte partner and Queensland merger and acquisition leader Rob McConnel said the activity had exceeded pre-Covid levels.

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“The availability of low-cost debt, increased market confidence, significant levels of capital to deploy _ particularly across highly active private equity bidders _ and pent-up demand from a shortage of opportunities, have all led to extremely competitive bidding processes with very high multiples being offered,” he said.

“While there are growing headwinds, the Deloitte Queensland index has outperformed major global indices such as the FTSE 100 and ASX All Ordinaries and has weathered the storm of the global financial crisis and Covid-19.

The market value of Queensland stocks had also increased more than six times since the start of the Queensland Index in 2002 when it was valued at $18.5 billion.

 

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