Values of ASX-listed stocks rose for the seventh consecutive month as global markets continued to move higher. Volatility in Australian equity markets (as measured by daily movements in the All Ordinaries Index) remained relatively subdued again this month with average daily movements of 0.8%, similar to volatility levels experienced in US markets.
Activity in the primary capital raising market picked up somewhat in September with six initial public offerings (IPOs) during the month, with the amount of new capital raised topping $1 billion for the first time since July 2008. There are increasing reports of a pipeline of new issues due to come to market in coming months. Secondary capital raisings continued to remain robust.
During September there were several large individual capital raisings including National Australia Bank ($752 million), Paladin Energy ($430 million) and Boart Longyear ($417 million).
A record 12.3 million cash equity trades were transacted in September 2009, 10% higher than the previous record of 11.2 million cash equity trades in August 2009.
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