BM&FBOVESPA’s equities and fixed-income markets traded BRL1.37 trillion and registered an average daily financial volume of BRL5.52 billion in 2008, up 14.7% and 12.9% respectively over 2007. The total number of trades increased by 62.9% to 61 million in 2008, and the daily average number of trades rose to 245,071which was an increase of 60.3% over the previous year. Investors created more than 800 investment clubs in 2008, while the number of individual investors exceeded 500,000 and the average number of investors with orders placed in the Home Broker system reached almost 200,000.
Derivatives (including financial and agribusiness) traded 391.6 million contracts in 2008, down 8.15% from the 426.4 million contracts traded in 2007, and the financial trading volume totaled BRL28 trillion, down 13.43% from the BRL32.4 trillion registered in the previous year.
To obtain further information:
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1. Equities and Fixed-Income Markets
2. Fixed Income
3. Derivatives Markets
4. Spot Dollar and Spot Gold
5. Investors Participation
6. Individual Investors
1. Equities and Fixed-Income Markets
Volumes and transactions
The total financial volume in the equities and fixed-income markets reached 1.4 trillion in 2008, up 14.7% from the BRL1.2 trillion registered in 2007. The average daily financial volume increased from BRL4.9 billion to BRL5.5 billion in 2008, representing a 12.9% increase in comparison to the previous year. The number of trades totaled 61 million for the year, up 62.9% from the 37.4 million trades registered the previous year. The average daily number of trades reached 245,071 in 2008, up 60.3% from the 152,872 trades registered in 2007.
In December, the equities and fixed-income markets reached a total financial volume of BRL76.9 billion, with a total number of 5.1 million trades. The average daily financial volume was BRL3.8 billion with an average of 255,568 trades per day. In the previous month, the total financial volume was BRL71.7 billion, reaching a total number of 5.5 million trades, with an average daily financial volume of BRL3.7 billion and an average number of 291,890 trades per day.
The stocks with the highest financial volumes in December were Petrobras PN, with BRL12.9 billion; Vale R Doce PNA, with BRL6.9 billion; BM&FBOVESPA ON, with BRL2.4 billion; Itaubanco PN, with BRL2.2 billion; and Bradesco PN, with BRL2.1 billion.
Indexes
The Ibovespa ended 2008 down 41.2% at 37,550 points.
The best performing stocks were Nossa Caixa ON (+200.59%); Brasil T PAR ON (+31.33%); Trans Paulista PN (+20.74%); Natura ON (+18.03%) and Telesp PN (+11.99%).
The poorest performing stocks were Rossi Resid ON (-83.20%); Aracruz PNB (-80.16%); Gol PN (-77.20%); BM&FBOVESPA ON (-72.81%); and Gafisa ON (-68.19%).
In addition to the Ibovespa, the following indexes ended lower in 2008: ITEL (-16.4% at 1,022 points); IEE (-11.6% at 15,291 points); IGC (-45.6% at 3,697 points); ITAG (-44.9% at 4,765 points); ISE (-41% at 1,185 points); INDX (-46.7% at 5,306 points); IBrX-50 (-43.1% at 5,546 points); IBrX-100 (-41.7% at 12,539 points); IVBX (-36.9% at 3,444 points); Small Cap (-50.7% at 493 points); MidLarge Cap (-43.4% at 566 points); ICON (-35.2% at 697 points) and IMOB (-69.3% at 307 points).
Market Capitalization
The total market capitalization of the 392 companies listed on the BM&FBOVESPA was BRL1.37 trillion at the end of 2008, down from BRL2.47 trillion for the 404 companies listed at the end of 2007.
Special Corporate Governance Levels
The 160 companies that were part of the special corporate governance levels at the end of 2008 represented 60.37% of the total market capitalization, 64.47% of the total financial volume, and 73.32% of the total number of trades in the BM&FBOVESPA spot market.
Market Participation
The spot market accounted for 89.7% of the total financial volume in 2008, followed by the options market, with 3.3%, and by the forward market, with 3.2%. In 2008, the ten most traded stocks, which accounted for 53.15% of the total financial volume in the spot market, compared to 45.42% in the previous year, were Petrobras PN; Vale do Rio Doce PNA; Bradesco PN; Petrobras ON; Vale do Rio Doce ON; Usiminas PNA; Sid. Nacional ON; Itaubanco PN; Gerdau PN and Unibanco UNT.
The spot market accounted for 94.3% of total financial volume in December, followed by the options market, with 4.0%, and by the forward market, with 1.7%. The after market traded BRL739.5 million, with 67,495 trades, compared to BRL660.8 million and 63,764 transactions in November.
2. Fixed Income
The fixed income market’s financial volume, including trades on Bovespa Fix and Soma Fix, totaled BRL1.3 billion in 2008, exceeding the BRL931.3 million registered in 2007. The financial volume of Real Estate Receivables Certificates (CRIs) totaled BRL217.7 million, compared to BRL176.1 million in the previous year. The financial volume of Credit Receivables Investment Funds (FIDCs) totaled BRL938.0 million, compared to BRL523.8 million in 2007. The financial volume of debentures totaled BRL149.1 million, compared to BRL231.4 million in 2007.
Altogether, 55 new securities were listed in 2008: 23 debentures, 29 FIDCs and three CRIs. Among these securities, two of them were listed in December: one debenture and one CRI. The financial volume in both markets, in December, totaled BRL74.6 million, with BRL62.2 million related to FIDCs, BRL8.3 million to debentures and BRL4 million to CRIs.
3. Derivatives Markets
Financial Derivatives
ID Interest futures totaled 166.9 million contracts in 2008, compared to 221.6 million in 2007. In December, 9.4 million contracts were traded, compared to 6.9 million in November.
US Dollar Futures ended the year with 87.4 million contracts, up from the 84.7 million contracts traded in 2007. In December, 4.06 million contracts were traded, compared to 4.94 million in the previous month.
Ibovespa futures traded 20.2 million contracts in 2008, compared to 26.5 million in 2007. In December, 1.1 million contracts were traded, compared to 1.4 million in November.
Open interest contracts ended the last trading day of December with 18.2 million transactions, compared to 18.4 million in November.
To consult the overall volumes (Portuguese only)
Agribusiness Derivatives
The BM&FBOVESPA’s agribusiness derivatives markets totaled 3.2 million contracts in 2008, up 47.7% from the 2.2 million contracts in 2007. The financial volume in the agribusiness derivatives markets exceeded BRL81 million, a 75% growth over 2007. The live cattle market, which became the largest BM&FBOVESPA agribusiness derivatives market, accounting for 52% of the total financial volume, traded 1.7 million contracts in 2008, compared to 940,000 contracts traded in the previous year. Arabica coffee totaled 838,000 contracts, compared to 808,000 in 2007. Soybeans stood at 292,000 contracts, compared to 196,000 in the previous year; and corn totaled 407,000 contracts, compared to 208,000 in 2007.
The BM&FBOVESPA’s agribusiness derivative markets totaled 179,200 contracts in December, compared to 166,000 in November. The live cattle market registered 97,400 contracts, compared to 89,000 in the previous month. Arabica coffee totaled 35,600 contracts, compared to 49,900 in November. Soybeans registered 18,300 contracts, compared 13,300; and corn totaled 24,200 contracts, compared to 11,900.
Agribusiness markets totaled 69,500 open interest contracts at the end of the last trading day of December. In November, open interest contracts totaled 67,600.
Mini contracts
In 2008, 10.1 million “mini” derivatives contracts were traded, through WebTrading, compared to 14.1 million in 2007. In December 709,800 mini derivatives contracts were traded, compared to 831,500 in November.
The mini Ibovespa futures market traded 9.9 million contracts in 2008, compared to 10.7 million in 2007. In December, the Ibovespa mini futures market traded 689,400 contracts, compared to 819,700 in the previous month.
In 2008, 147,400 mini dollar futures contracts were traded, compared to 3.5 million in 2007. In December, 18,300 contracts were traded, compared to 11,300 in November.
Mini futures contracts ended December with 10,700 open interest contracts, compared to 19,600 in November.
4. Spot Dollar and Spot Gold
Spot Gold
The Gold (250 grams) spot market traded 12,600 contracts in 2008, compared to 9,100 in 2007. In December, 595 contracts were traded, compared to 743 in November. The financial volume for the Gold spot market totaled BRL8.9 million in December, compared to BRL10.3 million in the previous month.
5. Investors Participation
Equities
Foreign investors topped the financial volume in the equities market in 2008, accounting for 35.5% of the total volume, compared to 34.5% in 2007. Institutional investors took second place, with 27.1%, compared to 29.8% in 2007; individual investors accounted for 26.7%, up from 23.0% in 2007; financial institutions accounted for 7.8%, compared to 10.4% in 2007; companies accounted for 2.80%, compared to 2.2%; and other types of investors accounted for 0.1%, compared to 0.2% in 2007.
In December, foreign investor participation accounted for 36.15% of the total financial volume in the equities market, compared to 33.51% in November. Individual investors took second place, with 29.50%, compared to 34.03% in November; institutional investors accounted for 23.82%, up from 23.78% in November; financial institutions accounted for 6.15%, compared to 5.37% in November; companies accounted for 4.20%, compared to 3.11% in November; and other types of investors accounted for 0.17%, compared to 0.19% in November.
Foreign Investment
As of the end of December, foreign investment flows into the Brazilian equity markets in 2008 were negative at BRL4,856,235,875.50, a result of BRL19,773,442,885.50 in shares bought by foreign investors in stock offerings and BRL24,629,678,761.00 sold by these investors in the BM&FBOVESPA
In December, foreign investor trading on BM&FBOVESPA fell to the negative balance of BRL439,252,157.00, a result of the selling of BRL27,934,624,451.00 and the purchase of BRL27,495,372,294.00 in stocks.
Foreign investor participation in stock offerings, including initial public offerings, represented 48.1% of the BRL41,088,182,386.20 in transactions which had announcements of the closing of public offering of stock published by January 5, 2009, as shown in a table that is available in the Press and Media section of the BM&FBOVESPA website.
Derivatives
Financial investors led transactions in the derivatives markets, responsible for 48.40% of the contracts traded in December, compared to 44.64% in November; institutional investors accounted for 20.19%, compared to 21.69%; foreign investors, for 19.84%, compared to 20.57%, individual investors accounted for 7.79%, compared to 10.24%; and non-financial investors accounted for 3.78%, compared to 2.86%.
6. Individual Investors
Equities – Individual Investors
BM&FBOVESPA had a total of 536,483 individual investor accounts at the end of 2008, compared to 456,557 in the previous year.
Equities – Investment Clubs
Investors created 21 investment clubs in December, which brought the number of new registrations to 853 in 2008, compared to 683 in 2007. All told, the Exchange ended the year of 2008 with 2,778 investment clubs. Their net worth totaled BRL8.3 billion and the number of participants stood at 149,400 as of November, the latest available figure.
Home Broker
Home Broker transactions in 2008 were as follows: an average monthly financial volume of BRL27.5 billion, up from BRL15.2 billion in 2007; an average monthly number of 2.9 billion transactions, up from 1.7 billion in 2007; an average monthly number of 199,200 investors, up from 135,600 in 2007. Considering the monthly average, the Home Broker participation accounted for 12.9% of the total financial volume in the equities market, up from the 8.44% registered in 2007.
Home Broker transactions in December were as follows: a total financial volume of BRL24.31 billion, compared to BRL25.74 billion in November; an average daily financial volume of BRL1.21 billion, compared to BRL1.35 billion in November; an average amount per transaction of BRL8,900 compared to BRL9,000 in November; a total number 2.9 million transactions, compared to 3.2 million in November; and a daily average of 146,800 transactions, compared to 170,100 in November.
Home broker participation in the stock market’s financial volume in December was 15.8%, compared to 18.0% in November, while in terms of the total number of transactions that participation reached 28.7%, compared to 29.1%. The number of investors placing orders stood at 156,036, compared to 168,467 in November. Sixty-one brokerage firms offered the service in December, one more than in the previous month
Derivatives
In December, the derivatives clearinghouse registration system had 81,003 individual taxpayer registry numbers (CPFs).
