Winners and Losers: Hydrogen and gas companies ride global turbulence
While rising interest rates and a global energy crisis sent tremors through stock markets, some of South Australia’s listed companies reaped the benefits.
A company targeting natural hydrogen and helium resources and a gas explorer were the top SA-listed risers of the week, gaining on the backdrop of global energy instability and rising interest rates at home.
H3 Energy – an Adelaide-based company working on a number of helium and hydrogen projects – rose by 28.57 per cent in the week.
While Jade Gas was another big riser, up 20.83 per cent. The firm is now worth more than $50 million.
Baker Young Limited analysts said global markets were “turbulent”, and the RBA interest rate rise was expected.
The Aussie dollar closed higher at US70.84c while commodities fell, with gold down six per cent for the week. Aluminium, zinc and copper prices also dropped.
The ASX200 was down two per cent for the week (down eight per cent for the month to date) and the Midcap 50 shed nearly four per cent in the week.
Copper and titanium miner PTR Minerals was the top Loser for the week, down 43.24 per cent, despite not making any announcements in the week. The company is down 67.19 per cent over the last year.
Stay informed, daily
Other losers included energy firm Vintage Energy, which fell 20 per cent.
The full list of Winners and Losers for the week ending March 23:
Want to see more stories from InDaily SA in your Google search results?
- Click here to set InDaily SA as a preferred source.
- Tick the box next to "InDaily SA". That's it.
